All homeowners have personal belongings that they keep at their house, which is why homeowners insurance will provide coverage for those belongings. However, if you have any valuables, such as furs, jewelry, or fine art, the coverage that is provided by your policy may not be enough to cover everything you own.
Typical home insurance policies will provide coverage for damage, destruction, or theft of your personal property. However, there are strict limits on the amount of coverage that your policy will provide. If you have an actual cash value policy, it means that your insurance company will take depreciation into consideration when deciding how much you will get after making a claim, which can mean not getting a payout of what you spent on some valuable items.
To better protect your valuables, you have two options. The first is to add an endorsement or floater to your policy. Endorsements and floaters will increase the coverage that is provided by your policy to better protect your assets. However, they may not provide enough coverage for your valuables.
The best way to ensure that all of your valuable items are covered is to schedule them within your policy. When you schedule an item, you will have to prove its value by showing the receipt or getting the item appraised. Once the item is scheduled, you will receive complete coverage for the value of the item. You will also have coverage that is not available with any other coverage options, such as protection for mysterious disappearance or if you lose a jewel out of a piece of jewelry.
Contact Phocus Companies is Phoenix, Arizona for all of your insurance coverage needs. As an independent insurance company, we will work with you to make sure that you have the protection that you deserve, all at the right price to fit your budget.
