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Hi, Shannon with the Anderson & Associates. I am going to discuss today if jewelry is covered on your home owners’ policy for theft.
The simple answer is “yes” but what a lot of people do not realize is it’s your home owners’ policy does limit the amount they will pay out for certain items.
One of those items is jewelry and a lot of standard home owners’ insurance will only give you a 1000 per jewelry item and too deductibles applies.
In most home owner policies in Florida, a standard deductible is a $1000.
So, if you have a $2,500 ring that is stolen out of your home, you could only hope to recover a 1000 for that and then pay your $1000 deductibles so it’s a wash.
What we recommend at Anderson & Associates is that you schedule those items on a separate floater. A lot of home owners company would allow you to schedule those items on your home owners’ insurance.
However, even if you have a scheduled item floater and you have a claim for theft, that counts against your home owners’ insurance.
So, that is why at Anderson we recommend that you put those items, those valuable items on a separate policy. Not only to keep the claim from being on your home owners and counting against you but it also covers broad things like if you misplace a stone or you leave your ring in a bathroom.
Those items are covered and anywhere in the world and again it keeps the benefits as it keeps the claim of your home owners’ insurance.
And a lot of time the deductibles is a lot less, instead of a 1000 or maybe 500 and you can get the full value of that $2,500 ring as long as you’ve had an appraisal done within the last 2 years or received.
Thank you, Shannon with Anderson & Associates.
Anderson & Associates has been serving Manatee County residents with property insurance coverage since 1985. We offer homeowners (including mobile homes), car insurance, life, health, umbrella insurance policies. We’re a family-owned and operated insurance agency, and we treat you like family.
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Anderson & Associates Insurance Agency
810 8th Avenue West
Palmetto, Florida 34221
Phone: (941) 729-7494
