Are you sure that you
are adequately protected if your jewelry is lost or damaged? Your standard Maine home
insurance policy may provide some coverage for personal possessions such as
jewelry, but there is a great deal of variation in the way insurers deal with
these types of very valuable items.
Read the fine print
of your policy to be sure that you understand what is covered and what may be
excluded. Among the vital questions you need to consider are:
Is your coverage for actual cash value or replacement value?
What are the coverage limits in total and per item?
Does the policy cover jewelry when you’re outside of your home?
Is damage included as well as loss and theft?
Are you protected if your jewelry is lost or stolen while you are on
vacation or traveling?
Consider whether or
not any of the exclusions listed in your standard Maine home insurance policy
need to be addressed; for example, do you need coverage for off-premises loss
of jewelry? In addition, if
you have some valuable pieces of jewelry, check whether or not your policy
limits provide sufficient protection.
With FA Peabody you can rely on our agency to
help you with any question you have. If you are not sure if you have adequate
coverage for your jewelry, talk to your agent or insurer about how your
standard Maine home insurance coverage can be adjusted to provide additional
protection. Your options may include purchasing additional insurance to cover a
broader range of risks, or a floater policy to cover more valuable items.