Important: The standard NC homeowners insurance policy provides very little insurance for valuable items.

Recently, my neighbor called me to tell me her home was broken into and asked if we saw anything suspicious around her house that day. We didn’t but I went over to see if there was anything I could do to help and find out what happened.

Apparently, someone broke in through her back door and stole over $80,000 worth of jewelry during the day while she was away. Her career requires a lot of travel abroad and over the years, she’s collected jewelry to pass down to her grand daughters.

When I asked her if she had a valuable items rider or endorsement for her jewelry, she replied, “I’m sure it’s covered by my homeowners insurance. I have a good agent.” I spoke with her a week later and she told me she didn’t have her jewelry covered except for what little coverage that comes with her homeowners insurance for theft of jewelry.

Although many of the pieces were unique and purchased during her travels which could not be replaced, the money spent on these items could have been replaced. Unfortunately, she thought her homeowners policy covered everything and assumed all of her jewelry was too. Her agent never asked about her jewelry.

The standard homeowners insurance policy contains many exclusions and limits. These limits and exclusions greatly affect coverage for your most valuable items. For example, the standard HO 3 homeowners policy provides only $1,500 for theft of jewelry.

So, what should you do if you own valuable items such as jewelry, furs, antiques, collectibles and guns? You can get special coverage on these items at very little cost. It may take some time and effort to get appraisals for the higher value items but it’s well worth it. Call our office today and let’s get started in protecting your most valuable items.

Tom Wiecek

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