If you look at your homeowners insurance policy, you may see that your contents coverage, all your personal belongings, are covered for approximately 70-75 percent of your dwelling limits. While 150,000 may be plenty, most people fail to realize there is a cap on jewelry. Jewelry is usually capped on a standard homeowners insurance policy at $1,000.
If you have engagement rings, wedding rings or any other piece of jewelry valued over 1000 dollars you may want to contact your insurance broker for additional coverage. You may be required to obtain an appraisal for the specified items. It is also a good idea to have the jewelry re-appraised every 5-7 years to make sure you have it insured for an accurate value.
Here are some other items you may want to discuss with your insurance broker as there could be internal limits built into your homeowners insurance.
- Furs
- cameras
- silverware
- cash
- business property
- firearms
- comic books
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Michael Truiano
Allstate Insurance Company
39 Maple Avenue
New City, NY 10956
Email: mtruiano@allstate.com
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