While your homeowners insurance policy will provide coverage for most situations, it may not provide enough coverage if you have any extremely valuable items, such as jewelry. Homeowner’s insurance policies have strict limits on how much they will cover in case of an unfortunate situation, which may not be enough to cover the items you value most.
There are two options that are available to ensure that your valuables are protected with your homeowner’s insurance policy. The first is to invest in blanket coverage for all of your important items. The second option is to “schedule” your valuables, or insure each item individually.
Although scheduling is more expensive than investing in blanket coverage, it has many more benefits. In order to schedule your assets, you have to first get them appraised so that your insurance provider will be sure of the actual value of each item. Scheduling your items can help to eliminate any arguments with your insurance company about what was in your home if your home was completely destroyed. When you schedule your valuables, they are written into your insurance policy, so there will be no question about what was destroyed or damaged in a disaster.
As another benefit, scheduling your valuables means that you will invest in the right amount of coverage for each item since you know the true value from the appraisal. You will also get “mysterious disappearance” when you schedule your valuables, which will provide coverage if one of your valuables goes missing, such as if a diamond falls out of your engagement ring.
For all of your homeowners insurance coverage needs throughout Wisconsin, contact the insurance professionals at Unisource Insurance Associates in Wauwatosa. We will help with all of your scheduling needs to ensure that all of your valuables are properly insured.