Even the most comprehensive homeowners policy is limited in its protection of high-value items, such as fine art, jewelry, silver, crystal, antiques, furs, or other unique valuable article collectibles. Relying solely on your homeowners policy for coverage means you may find out you don’t have enough insurance to replace your prized possessions in the event they are lost, stolen, or damaged.
“43% of high-net-worth individuals likely have valuables that are uninsured or underinsured."
No matter what you do, it’s always a good idea to create an inventory, establish the value of your possessions, and then protect them. Your insurance choices are adding a valuable articles policy using a scheduled list of items or blanket coverage.
By itemizing, you and your insurer agree on the individual value of an item before a loss happens. With blanket coverage, the policy provides a single high limit coverage that could apply to any number of valuables. We can help you determine what makes sense for your collection.
A separate valuable articles insurance policy may offer better protection. Most homeowners insurance policies provide only limited coverage for valuables such as art, jewelry, and collectibles. Homeowners policy limitations for valuable articles include:
Our personal insurance advisors provide customized insurance consultation and education to help safeguard your valuables and align your coverage.
1 Marsh McLennan Agency Private Client Insurance Benchmarking Study 2023.
