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Personal Property Limitations On Your Homeowners Insurance Policy

Good morning this is Nancy at Huff
Insurance with your insurance tip of the week. This week I’d like to talk to you
about homeowners insurance and your personal property coverage. Under the
homeowner’s policy you have coverage for your personal property, which is your
contents. Basically all the stuff that’s in your house. However there are specific
limitations for theft for certain items. Those items includes silverware goldware jewelry firearms and furs The reason that there are limitations on
those items is because generally as a whole most people have very little of
those items. So for those customers that have more than the average then they
recommend that you specifically schedule those items either on your
homeowners policy or by purchasing a separate policy to cover those items. The
reason that this is important to mention is that we have tons and tons of
customers that have jewelry that is very expensive or they have many guns because
they’re hunters. When you have these kind of situations, if there’s items would be
stolen you would be very disappointed with the little amount of coverage that
you have under your homeowners policy. By scheduling these items, it not only gives
you the benefit of not having to pay a deductible if those items are destroyed
or stolen, and in addition it gives you generally much broader coverage to
include what’s called mysterious disappearance, even on the policy. So
mysterious disappearance is when there really wasn’t a theft but the item was
there and now it’s not. So it’s generally not covered by your homeowners policy to
have mysterious disappearance but once you’ve scheduled these items mysterious
disappearance is something that the carriers generally cover you for. You can
also schedule items that there’s not a specific limitation on, like golf clubs
or musical instruments, things like that laptops a lot of people will schedule
these items because they’re concerned about the mysterious disappearance exposure and they want to make sure that if their golf clubs are in the
changing room at the golf course and that you come back out and they’re gone
that you have coverage under your policy and the only way to do that is to
specifically schedule those items. This is just another instance of why it’s
important that you contact your insurance professional here at Huff
Insurance and we go through your hobbies and your interests and what it is that
you collect or what it is that you hold dear to you so that we can make sure
that it’s got the proper coverage prior to the loss and not finding out after
there’s a claim that there’s a gap in your coverage. Huff Insurance is here to
help you for all of your personal and business insurance needs give us a call

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