Did you know that your homeowners insurance policy alone may not be enough to protect certain valuables? While homeowners insurance does cover your belongings, these policies have limits — meaning items valued beyond the limits of your policy may not be fully covered in the event of a claim. Luckily, there are a few options for homeowners to ensure their valuables are protected in the event of the unexpected.
Understand Your Insurance Policy
The first step in making sure your valuables are protected is to understand your insurance policy. Knowing what’s covered and how much coverage you have will help alleviate much of the stress that can come from unexpected situations, such as a fire or theft. If you don’t understand the specifics of your policy, you can always contact your independent insurance agent to clarify these details.
Conduct A Home Inventory
Do you have a good idea of all the items in your home? If not, it might be time to make a home inventory. When making a home inventory, make sure to check every room in your home — including closets, attics, basements, and garages. Compile as much detail as possible and include any receipts you may have. Consider taking photos or videos to make this process even easier. Once you’ve completely audited your entire home, you can then determine which items may need additional insurance coverage or even an appraisal.
Know The Value Of Your Possessions
It’s possible that some of your valuables may be worth much more than you think. If you’re unsure if additional coverage is needed, consider getting your items appraised. An appraiser can provide insight into the value of your items to help you determine whether or not you need additional insurance coverage. Remember, items can change in value over time, so it’s important to get them re-appraised periodically to determine if you may need additional coverage.
Connect With An Insurance Agent
Valuable items may require an additional insurance endorsement in order to be fully protected in case of a loss, and your independent insurance agent is there to help! Your insurance agent can help you identify items which may need additional coverage, and can then find the right endorsement to protect them.
We hope these tips help you understand how to maximize protection for your valuables. If you have more questions, however, we work with over 500 independent agents who are ready to help. Visit our website to find a local agent near you: bit.ly/QuincyFindAgent.