“Is my jewelry covered by my homeowners policy?”

Your standard Maine homeowners insurance policy may provide some coverage for jewelry, and other items, but there are often limits in coverage.  

Read the fine print of your homeowners policy to be sure that you understand if your jewelry
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 F.A. Peabody Insurance, you can rely on our agency to help you with any question you have including, “Is my jewelry covered by my homeowners policy?” If you are not sure if you have adequate coverage for your jewelry, talk to your agent or insurer about how your standard Maine homeowners 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.