Stefanie Walsh of the Wisconsin educators Association talked about protecting more most valued possessions in the article. Worth the read….. I am able to discuss your particular situation, please give me a call @ 412-489-6443.
Did you know standard home policies provide only limited protection for high-value items? Adding an endorsement (also called a rider or schedule) to your home policy for valuable possessions can provide coverage for their full worth.
During an insurance evaluation with a potential member, I asked if there were any valuable items to schedule like jewelry or artwork. The member didn’t currently have scheduled items and was under the impression everything, including her $5,000 wedding ring, would be covered under personal property coverage. I explained that even a covered loss like theft would be limited by the terms of the policy and subject to the deductible. Losses such as mysterious disappearance or a gemstone falling out would not be covered at all. By scheduling an item, the coverage limitation is removed, deductibles do not apply, and coverage is expanded to include perils such as mysterious disappearance.
Here’s another example of how scheduling can be a good addition. Say your insured college student loses his or her laptop or it gets doused with a can of soda. You’ll be out of luck unless you scheduled the item with your insurance. While theft is a covered loss on your standard home policy, losing an item or accidental damage are not. And again, deductibles do not apply to scheduled items.
Scheduling high-value items is often an overlooked coverage, but the low cost for the added protection is a good value.