Insurance Coverage – What you need to know

||    Contributed by Summer Alger of Castle Insurance Group    ||


Imagine this, you come home from a night out on the town to discover your home has been invaded and your valuables gone. The beautiful jewelry you keep in your bedroom and your husband’s gun safe, hunting guns, and utility trailer have all been taken. Most people in this terrible moment believe that their homeowners or renters insurance will cover the loss and give them money to purchase and replace their valuables. If you think this, you are only partly correct. You see, insurance will give you money, but each insurance carrier sets limits on the amount they will cover your belongings for. On average, insurance carriers will give you about $1500 total to replace any stolen jewelry, watches and trailers, and about $2500 to replace stolen firearms. 

Odds are your valuables cost much more than these limits so here is what you should do: 

your valuables and assess their value

your current policy’s limits (this is found
at the back of your policy)

Call your agent
to discuss getting proper coverage
for these possessions

You may need to have jewelry appraised to prove their actual value, and you may need to produce receipts. This helps insurance companies to know exactly what they are insuring and for you to get adequate coverage. So, take a moment to protect those things that you value in your home the most as these additional coverages are not very expensive. Should the moment ever come where your home or car was invaded and belongings taken, you will have a bit more peace of mind knowing that you are properly covered.