My Personal Valuables Are Covered... Right?

True or False?

Homeowners Insurance will cover the full cost of your valuable personal items if there is a loss of any kind.

                             

False.

A Homeowners policy does cover the loss of valuable personal items, however to keep the policy affordable and keep premiums down, the limits are kept low. Since we live in Texas and still ride horses, we all have a gun collection, right? Not really but let’s go with that example. Your home gets broken into and your gun collection is stolen. If your liability limit is $1000, chances are that’s not going to come close to what it’s going to cost to replace your collection. Not only that, but what if other personal valuables were also stolen as well? You may be stuck having to pay out of pocket to replace those items if you don’t take the time to know your policy and what it covers.  Same goes for theft and acts of nature or even vandalism. Just remember, whatever the liability limit is, that is all that will be covered.

So, open up a savings account as insurance just in case the loss goes over your limit. Problem solved, right? No because there’s a better way. It’s called a Personal Articles Floater, or “floaters”. What does this do for your personal valuables? It provides higher limits than your homeowners policy.

A Personal Articles Floater policy can cover:

Firearms

Cameras and equipment

Musical instruments and equipment

Artwork

Jewelry

Silverware

Various Collectibles

Come by the office and we can talk more about your insurance needs. It’s always a good time to review your polices especially if there’s been an life event. If a floater policy is something that you need to look into, let’s sit down and look at what needs to be done to get one started for you.  Having the right insurance is NO accident. Let us make sure your insurance is up to date and the right fit for you.