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Did you know your homeowners insurance has sublimits for jewelry, fine arts, gun, furs, collectibles, etc? Usually that sublimit is 1500 or less by category so that means if you received a nice piece of jewelry valued more than 1500 you will want to add the piece to your policy to have coverage. Otherwise if you have a loss you would only get 1500 so you would be uninsured for the remaining value.

Jewelry is a popular gift item every year, and on top of the value of each piece, a jewelry collection can have a value of thousands, if not tens of thousands of dollars. On a homeowners insurance policy there may be a limit of $2,000 or less on the amount of coverage for jewelry. A diamond ring and a pair of pearl earrings may put you over that limit. With jewelry it's important that you know how much your gift (and other pieces) are valued at, and whether it exceeds the limits in your policy. If it exceeds the limit, consider adding what's known as a "valuable articles floater" to your homeowners policy. This additional coverage will add worldwide coverage. It typically runs around 150/year for 10,000 value.

Collectibles & Memorabilia
Whether it's the baseball card from your favorite player's rookie year, the autographed "Rolling Stones" album cover or the rare stamp your philatelist father-in-law has been searching for, collectibles and memorabilia can have significant value, either as an individual item or as part of a larger collection. For some or as part of a larger collection. For some collections, listing or "scheduling" the items on your homeowners insurance policy will provide sufficient coverage. For some collections though it may make more sense to obtain a separate policy- for items like art, antiques, musical instruments and coin collections, a Fine Arts and Valuable Items policy may be available for added peace of mind.

A valuable articles floater or a personal articles floater can add coverage for your gifts if they aren't covered by your homeowners policy. When you give or receive gifts that may have a high value, make sure you document their value and add them to your home inventory. Then, reach out to our office at 281-558-2210 to make sure that you have coverage to protect your present.

Suzanne Brown Insurance Agency

A Texas Independent Insurance Agency with over 50 insurance carriers


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