Home Insurance Fort Worth TX Valuable Items

 

“Do I need extra insurance for valuable items? ”This is one of the most common questions made by homeowners in Fort Worth, TX. Your collection of valuable items is important and as most homeowners your valuable items will increase or change over the years so be sure to talk with your agent yearly to update the values.

 

Coverage for valuable items is fairly inexpensive and easy to add to your existing home insurance policy Fort Worth, TX or in some instances a separate policy can be written. The items will be replaced or paid for if you experience a loss that is covered by the insurance policy. However, coverage is only for items that have been listed on the policy.

 

Know the Coverage of Existing Home Insurance Policies

 

If you have homeowner’s insurance Fort Worth, TX then your policy already has personal property coverage and you normally already have some type of protection for your valuable items. However, the typical policy will only cover up to a certain limit for jewelry. The bad news is that typical insurance policies do not cover wear and tear, such as a diamond falling out of its setting unless you have the valuable items coverage.

 

It is also important to know how much you are covered for. Your home insurance policy may cover each piece of jewelry at a set amount such as $1,000 each. There are policies that allow you to cover the entire collection, such as $3,000 for the whole set. It is important to check the policy to understand what valuable items can be covered through your existing policy.

 

Determine the Value of Your Jewelry Collection

 

To find out if you have enough insurance coverage, you need to know the worth of your jewelry collection. It is important to note that the value of your items might be higher today than when you got them. The value of precious metals and gemstones go up through time. That’s why you need to have your items appraised at least every three years. You can use the appraisals and receipts to know the value of your jewelry collection. Then you compare the value to your jewelry replacement coverage that’s part of your home insurance.

 

If the jewelry coverage of your home insurance policy is lower than the value of the collection, then you need to buy additional coverage or scheduling valuables as part of your home insurance policy. You will need an appraisal or receipt to establish the value of the item.

 

These are the things you need to know when it comes to insuring jewelry and other valuable items. Consult your agent to learn how to protect your favorite jewelry pieces.

 

Having home insurance in Fort Worth TX is very important for every home owner. There are different types of home insurance that you can pick from, so you should talk with James Little Agency today to find the home insurance that best fits your needs CLICK HERE