 | Southeast Kansas native and PSU graduate, Jessica Stice, is the owner/agent of the Shelter Insurance office located at 410 N Broadway in Pittsburg. She has been a licensed Property, Casualty, Life and Health Insurance agent for over 6 years in the Southeast Kansas area. For more information, Jessica can be reached at (620) 231-4580. You can also visit www.shelterinsurance.com/jstice. |
Insurance
2013-03-25 15:59:30
Additional coverage to protect your prized possessions
Q-I have a lot of jewelry. Will this be covered under my homeowner’s insurance?
A-This can be a tricky question, and the answer may differ from company to company. Generally, however, unique or highly valuable items may be subject to different coverage limits under your basic property insurance policy. In other words, you may need another type of policy to cover these items because of certain limits on your property insurance. For example, if your homeowner's policy has a $2500 limit on jewelry and you own a $5000 ring, there would not be enough coverage and you may need to look into other options. There is a policy designed for this situation.
A personal articles insurance policy (also known as inland marine insurance) can help protect you from the expense of repairing or replacing your rare or expensive personal possessions where your homeowners policy has limits. First of all, you may be wondering why this type of policy would be called inland marine insurance. Historically, ocean marine insurance provided protection for cargo on large ocean liners. Inland marine insurance developed when shippers began to be responsible for cargo being transported from ports to their final destinations. Today, the term inland marine is generally applied to any property that is transportable. When an inland marine policy is written, sometimes the insurance company will require an appraisal or proof of purchase for your item.
Personal articles insurance can help cover the following items:
* Jewelry
* Guns
* Silverware
* Musical instruments
* Furs
* Photography equipment
* Works of art
* Bicycles
* Golf equipment
* Livestock
* And more
It's important to make sure you know your policy limits, so talk with your agent to get more familiar with any gaps you may have on your policy so they may be replaced with an inland marine policy.
