Hurricane Checklist: Does Your Insurance Cover Your Valuables?
This week's Hurricane Checklist reminder is to make sure your valuables such as jewelry, watches, furs, guns, silverware, coin and stamp collections, computers, musical instruments, etc. are sufficiently covered under your homeowner's policy.
These items are covered under your personal property coverage. However, most policies have a pre-set limit they will pay for these items. You can purchase higher limits by contacting your insurance agent.
If you rent, talk to your insurance agent about making sure that you understand what is covered under your renters insurance policy so that you can make any adjustments that may be needed.
For some of the higher value items, your insurance company may require an appraisal or a receipt from the original purchase. Since insurance policies can vary from company to company, the limits placed on these items could vary as well. You can find a list of the personal property and the coverage limit in your policy.
It's always a good idea to keep pictures or a video of your possessions. Remember, if you have to evacuate, you may have limited time and space to take things with you.