Tom's Blog
With Christmas behind us and Valentines Day quickly approaching, you may have received and/or will be receiving some beautiful and perhaps costly gifts. Adding to your inventory of new purchases or gifts means you should also take inventory of your N.C. homeowners coverage to ensure your valuables are properly protected.
Don’t Let This Happen to You
You woke up Christmas morning to a wonderful surprise! Your husband surprised you with an exquisite pearl necklace that you always wanted and you couldn’t be happier. However, the next day you and your family left town to visit family, leaving your necklace safe at home. When returning home, you realize that someone had broken in and stolen all of your jewelry, including your new pearl necklace.
You never imagined this would happen and now your insurance company states there are specific limitations on coverage for theft of personal items, such as your jewelry, coins, furs, and firearms. Failing to update your homeowners coverage on your valuables leaves you with an amount that won’t even come close to covering the value of your stolen jewelry.
Endorsements Can Increase Your Limit of Coverage
A standard N.C. homeowners policy has specified limits of coverage for your personal items/valuables and while many people may think their items are protected for theft or loss, they may not be without an endorsement. It is always recommended that as your needs change, you should always contact your local N.C. independent insurance agent to address your changes and make amendments to your current homeowners coverage if necessary. This type of coverage is called a scheduled personal articles endorsement and provides broader coverage for those items including furs, jewelry, firearms, and watches.
Some Tips to Protect Your Valuables, Both Old and New
- Take inventory of your valuables- You may be surprised when you take inventory of how many costly possessions you may have. Consider electronics (cameras and laptops), jewelry, firearms, rare coins, and furs.
- Document your belongings- Take photos and secure any needed appraisals to document the value. Also, keep any receipts for items you have purchased to document the value.
- Contact your N.C. independent agent- Keeping your agent informed will ensure your valuables are protected for the full value should you experience theft or loss. Your agent will assist you with any coverage adjustments you may need on your N.C. homeowners policy.
While you can’t prevent losses from happening, you can be prepared for when they do. By keeping an updated inventory of your valuables, you can maintain the necessary coverage you need should a loss ensue. Paramount Insurance Agency is here to assist you with any questions you may have regarding your valuables and/or the protection you need for them. Call us TODAY at 866-869-3335 for all of your N.C. homeowners insurance needs.
