Items you may want to consider:
- Heirlooms(furniture, paintings, etc.)
- Musical instruments
- Fine art
- Antique china, crystal, decorative items
- Designer appliances
- Vintage wine
- Collectibles (stamps, coins, glassware, etc.)
To properly protect certain types of valuables, additional coverage is available through a policy endorsement or floater.
Endorsements are additions to your homeowners, condominium, or renters insurance policy that change or add to the policy’s provisions. This allows you to cover property otherwise excluded from a basic homeowners insurance policy, extend the number of perils included, or increase the amount paid for a covered loss. The items of value are “scheduled” on a list that includes a brief description and the item’s dollar value. To determine each item’s value, an appraisal or sales receipt is typically required.
A separate personal articles floater policy may be used to schedule your valuable property that is subject to special limits under basic homeowners coverage. Once you have an endorsement or floater, it is important to periodically review your policy’s coverage limits to minimize the likelihood of being underinsured due to outdated appraisals and inadequate limits of insurance.
How much does coverage cost?
The cost of coverage varies upon the item, but typically the fee is nominal. Our personal lines team of professionals can provide you with more information about coverage and an estimate for the cost of scheduling an item. For more information, contact us today!