The Importance of Insuring High-Value Items in Your Home

Homeowners’ insurance is designed to help with a wide range of potential losses, but standard policies may not cover high-value personal items. For homeowners in Kennesaw, Georgia, a closer look at how those items are covered can be a worthwhile step toward avoiding surprises.

What Qualifies as a High-value Item?

High-value items often include fine jewelry, luxury watches, collectible art, rare antiques, high-end electronics, designer handbags and musical instruments. These items may hold significant monetary value, sentimental importance or both. While homeowners’ policies include personal property coverage, that coverage has limits, especially when it comes to theft or damage involving specific property types.

For example, a standard policy may limit coverage for jewelry loss due to theft to $1,500. If your engagement ring or watch collection exceeds that amount, the remaining value may not be addressed without additional coverage.

When Should You Consider This Coverage?

Covering them through an insurance endorsement or floater may make sense if you own high-value belongings. This option allows you to individually list items on your policy and their appraised value, which can help ensure broader coverage. In many cases, scheduling items also removes the deductible for those belongings and may expand what types of losses are included.

You’ll likely need an up-to-date appraisal or receipt for each item to get started. From there, your agent can help you determine which items benefit from added coverage and how best to document them for future claims.

Learn More

D. Ward Insurance Services in Kennesaw, Georgia, can help you review your current homeowners policy and evaluate whether your high-value items are appropriately accounted for. If you’ve recently received a valuable gift or made a large purchase, now might be a good time to reassess how your belongings are insured.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.