It’s human nature to try to spend as little time thinking about insurance as possible. The tendency with homeowners insurance, in particular, is to oversimplify and think "If it’s in my house, it’s covered." Unfortunately, this is not always the truth.
First of all, homeowners insurance doesn’t cover every type of peril. For floods, for instance, a basic homeowners policy will usually not cover damages, so you would need to purchase additional flood insurance. Similarly, most policies also do not cover earthquakes without specific additional coverage.
Even if the event that causes the damage or loss of your property is covered, you may still not be fully reimbursed for the loss. There are often limits on the amount you can claim for damages, so when it comes to insuring jewelry, insuring artwork or insuring other high-value items, you may want to purchase additional coverage to make sure that the whole value is covered.
If you live in the Phoenix, Arizona area and you have questions about insuring jewelry, insuring artwork or any other insurance needs, you should contact the Phocus Companies today!
