Does your property insurance cover all your stuff? You probably hope so, right? Well wouldn’t it be better to know so. Many people think their home insurance or renters insurance covers the full cost of all of their “stuff.” However most policies cover your house and most of its contents, but usually contain limits on certain items, and certain types of loss. Be sure that your coverage protects all of your assets in Lafayette, Indiana.
For example, your homeowners policy automatically covers certain household items such as furniture, clothes and many appliances up to a limit of insurance. However, most policies typically have special limits for theft of valuable items such as jewelry, electronics, fine art etc…
So what about this gap in coverage? There is a solution, a floater. This type of add-on policy covers your valuables again more common causes of loss than your basic policy and to the full amount.
With a scheduled floater, you supply the list of “scheduled property” and professional appraisal documentation. Those items are then covered with their own specified limits and less exclusion, giving you broader coverage. A scheduled floater also allows you to choose the deductible that is right for you.
Farmers offers floater coverage for:
- Jewelry (rings, necklaces, earrings, watches, etc.)
- Fine art (paintings, statues, tapestries, etc.)
- Cameras (camcorders, special lenses, etc.)
- Musical instruments
It’s always better to make sure you have enough insurance, than to have a loss and find out after the fact that you don’t. If you have questions about your policy and if your valuables are covered, give me a call and I can go over you policy and coverage with you. It’s your stuff; I just help you make the best decisions on how to protect it.