Wedding season is upon us and with that comes wonderful gifts of value for your home not to mention the beautiful wedding ring and anniversary gifts. Please consider additional insurance for them, because basic homeowner’s policies generally have limits on how much they’ll cover, especially in the case of theft or mysterious disappearance.
There are two major forms of additional coverage for valuables. One is to insure items individually with their own additional floaters to your home insurance policy. The other is to buy broader blanket coverage for each category of valuables, say jewelry, art, wine or collectibles. Items to schedule are items that change in value due to changes in the market like gold, art, and other memorabilia. With the more expensive first option, you need to schedule, or list, each item individually, while with the less expensive blanket coverage, you don’t.
So which is the better option?
Martin & Martin recommends that despite the higher price of scheduling and the fact that it often requires appraisal of items, scheduling comes with a number of advantages. The biggest advantage is that you will know what your items are covered up to. If you have very valuable items, it’s better to have them listed.
If you need help insuring your valuables or just have questions we are here to help