Yesterday it was reported that Kim Kardashianwas robbed at gunpoint and the thieves made off with 10,000,000 in jewelry. I’m sure
that this was a horrifically terrifying event for her but it brings up an interesting question that most people do not think much
about. Are your valuables covered the way they should be?
I remember when I was 9 or 10 and our house was burglarized. I remember the door being open and my dad sending us to the neighbors
house as he went inside to inspect the damage. They made off with lots of different things but worst of all they took my moms wedding
ring. So here is what you need to know about properly insuring your valuables.
#1 Check your policy limits. Make sure that the limits on your homeowners/renters/condominium policy cover the value of all the
personal property in your home.
#2 Take pictures of everything. get a cheap memory stick and go around your house photographing all the contents. even the little
things. All of these items have value and with this proof it will make the claims process sooooo much easier. Do not store the memory
stick in your home! Give it to a trusted friend or leave in in a safe deposit box.
#3 Check the policy sub limits!! this is one of the most important things you can do. All policies have sub limits for Jewelry,
firearms, fine art, money, and electronics. Sometimes these limits can be as low as 1,000. So if you have a valuable piece of
jewelry (like Kimâ€™s 4.5 million dollar diamond) or an arsenal of fire arms here is what you need to do to get them properly insured
Get them appraised: Take the items to a licensed appraisor and get that appraisal in writing
Get that appraisal to your agent: as soon as you get the items appraised (or an appraisal in the last 12 months)
take that info to your insurance agent so he can add what is called a “Personal Article Floater” to your policy
to properly cover the item you need insured.
So if you have any questions, want to check if you are properly covered, or would like a full evaluation of your current insurance
needs just click for a free quote and we would be happy to evaluate you situation. Have a great week.