Personal Articles Coverage

According to the FBI, in 2014, property worth more than $12 billion dollars was reported stolen, and about 77% was never recovered.

 

Many people remain under the misconception or are misinformed that their homeowners policy provides coverage for all the personal belongings, regardless of the type of property, which is not true. Every year, many learn this the hard way when their valuable personal property is damaged or stolen.

Many homeowners don’t carry enough personal property

insurance on their most valuable possessions. Renters overlook

personal property insurance for several reasons. The biggest

reason is because they believe their landlord’s insurance covers

their property(IT DOES NOT). It is important for homeowners and

renters to obtain and maintain the correct type and amount of

contents insurance to ensure their valuables will be replaced

after a loss.  

Over the years you may have collected, inherited, or received as

gifts treasured jewelry, artwork, firearms, antiques and other

precious personal property. These items are also valuable to

thieves, who have stolen $1.5 billion in jewelry and $139 million in

firearms. Only 4% of the jewelry and about 10% of the firearms have been recovered.

 

                                                                                       If you think you are fully covered by your homeowners i                                                                                                               nsurance for the loss of these and several other categories of                                                                                                   precious possessions, you may be wrong. The contents insurance                                                                                             of your homeowners policy contains sub-limits for valuable items                                                                                             like jewelry, firearms, artwork, and furs.

                                                                                       If you don’t add the right level of coverage for these valuables                                                                                                   under your personal property endorsement (or rider), you can                                                                                                   expect to pay the full cost for the loss of those items in a fire,                                                                                                     natural disaster or theft.