Scheduled Personal Property

Yes is Matters

For some, this article will not make any sense whatsoever. Everything you own is cheap, and nothing you own is worth anything. Put me in that camp. Maybe it was my upbringing, or maybe its because I live in a rural town with Walmart and Home Depot. In short, a dollar in a mutual fund is more important to me than a nice Dewalt Table saw. For my wife’s sake I hope I can get to the point where I can spend a little, but that day hasn’t arrived. For others you own property that is actually worth something. This could be jewelry, furs, guns, collections, rare items, tools, antiquities, and the list goes on. Did you know there are limits on your policies for some of these items, but regardless of the limit If you have something that’s actually worth something. You should make sure its covered like you need it to be.

Sometimes this will require a long drawn out process. This is going to depend on what it is you are trying to insure, and how much you want to insure it for. Meaning you may need an appraisal, but your great grandfathers gun is really worth that much is going to be invaluable, but if something happens a replacement might be the next best thing. Same thing could be said for the rock on your wife’s hand. New or old somethings are worth covering, and making sure you have the right coverage.

Other times adding coverage for these things can be as simple as increasing predetermined limits That exist on your policy. For example, without changing the policy you only have $1500 in coverage for theft of jewelry and furs. That isn’t per item, that’s total. Or $2500 in for theft of firearms and related equipment. That really isn’t a lot.

So, before you purchase your homeowner’s insurance policy, be sure to actually think about what matters to you.