I am going to get engaged next month. Will my home insurance cover my engagement ring as well as my fiance's ?
Total Comments: 3
Posted: Mon Jan 07, 2013 06:14 pm Post Subject:
Jewelry is normally covered up to about $2,000. That will probably not be enough coverage. You can purchase a "Personal Articles Floater" or a "Personal Jewelry Floater" policy as separate coverage or as a rider to your homeowners policy. The Personal Articles Floater provides broader coverage than a Jewelry Floater, for reasons that should be obvious.
You can also "schedule" personal property for more coverage, but the Personal Floaters are "Inland Marine" policies with far fewer exclusions. Where your HO policy would not provide protection for flood or earthquake losses, the floaters will. About the only thing that isn't covered is "mysterious disappearance" -- but you have to read the contract to know what losses are excluded (if a cause of loss is not named as an exclusion, then it should be covered).
Talk to your homeowners agent, if you have one. If you don't because you bought your HO policy online, this is a good reason to find a local agent/broker.
Posted: Tue Jan 08, 2013 07:24 am Post Subject:
Thank you for sharing the information about jewelry Insurance.
Posted: Sat Jan 19, 2013 01:06 am Post Subject: jewelry
Mysterious disappearance is not always excluded, and flood and earthquake is not always covered.
If you do have a homeowners policy, I would actually suggest getting a Personal Articles policy separate from your home policy because if you do have a claim and the coverage is on the home policy, it could cause your homeowners premiums to increase at renewal.
Posted: Mon Jan 07, 2013 06:14 pm Post Subject:
Jewelry is normally covered up to about $2,000. That will probably not be enough coverage. You can purchase a "Personal Articles Floater" or a "Personal Jewelry Floater" policy as separate coverage or as a rider to your homeowners policy. The Personal Articles Floater provides broader coverage than a Jewelry Floater, for reasons that should be obvious.
You can also "schedule" personal property for more coverage, but the Personal Floaters are "Inland Marine" policies with far fewer exclusions. Where your HO policy would not provide protection for flood or earthquake losses, the floaters will. About the only thing that isn't covered is "mysterious disappearance" -- but you have to read the contract to know what losses are excluded (if a cause of loss is not named as an exclusion, then it should be covered).
Talk to your homeowners agent, if you have one. If you don't because you bought your HO policy online, this is a good reason to find a local agent/broker.
Posted: Tue Jan 08, 2013 07:24 am Post Subject:
Thank you for sharing the information about jewelry Insurance.
Posted: Sat Jan 19, 2013 01:06 am Post Subject: jewelry
Mysterious disappearance is not always excluded, and flood and earthquake is not always covered.
If you do have a homeowners policy, I would actually suggest getting a Personal Articles policy separate from your home policy because if you do have a claim and the coverage is on the home policy, it could cause your homeowners premiums to increase at renewal.
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