Nearest broker: Searching for a broker nearby…
Nearest broker: Sunderland Phone: (705) 357-3916 Sudbury Phone: (705) 523-2030 Penetanguishene Phone: (705) 549-7437 Ottawa Phone: (613) 733-3312 Parry Sound Phone: (705) 746-2441 Orillia Phone: (705) 325-4234 Kemptville Phone: (613) 258-5991 Eganville Phone: (800) 884-1045 Petawawa Phone: (613) 687-4805 Belleville Phone: (800) 361-0941 Winchester Phone: (800) 487-3706 Wellington Phone: (613) 399-3620 Trenton Phone: (877) 455-0299 Prescott Phone: (877) 504-3569 Picton Phone: (888) 475-2776 Peterborough Phone: (800) 958 2270 Perth Phone: (877) 248-1222 Pembroke Phone: (877) 399-3299 Oshawa Phone: (800) 887-7309 North Bay Phone: (705) 475-0001 Napanee Phone: (613) 354-2152 Morrisburg Phone: (800) 806-0746 Midland Phone: (888) 737-6465 Madoc Phone: (613) 473-5266 Kingston Phone: (800) 590-5422 Gananoque Phone: (800) 932-2131 Embrun Phone: (866) 853-4740 Crysler Phone: (888) 292-7098 Courtice Phone: (888) 761-0443 Cornwall Phone: (844) 463-3616 Cobourg Phone: (800) 895-5902 Carleton Place Phone: (888) 237-9517 Brockville Phone: (888) 345-8663 Brighton Phone: (613) 475-1430 Barry’s Bay Phone: (866) 845-2123 Barrie Phone: (705) 726-3350 Bancroft Phone: (800) 994-0036 Arnprior Phone: (800) 668-7337
Get a Quote
Open Menu

I have $20,000 in jewelry and $100,000 in contents coverage am I covered for my jewelry?

Question: I have $20,000 in jewelry and $100,000 in contents coverage am I covered for all of my jewelry?

Answer: Insurance companies have different limits for jewelry, so it is important to check the detailed wordings of your policy. Even if you have $100,000 worth of contents they may limit your jewelry to $10,000 for example. So check the details in your policy.

Additional Info: After you have checked the limits of your policy you may decide to add an insurance floater or schedule the jewelry items on your home owners policy. What this means is if the value of your jewelry exceeds the jewelry coverage limit on your property insurance policy you can purchase additional coverage to ensure your jewelry is properly covered up to the specified limits.

In this case if you have $20,000 in jewelry but your policy only covers up to $10,000 for jewelry coverage you would be in trouble if your jewelry was stolen or damaged. You would only received $10,000 from the insurance company for your jewelry coverage and you would also likely be responsible to pay your deductible. That means you would be on the hook for the other $10,000. If you add a Personal Articles Floater for the $10,000 of excess jewelry you would have full coverage and it is often deductible free.

The Personal Articles Floater also applies for other products or collections such as art, books, or cards. Make sure to ask your broker about your policy limits and always advise if you have collections or memorabilia that is worth a lot of money!

No comments found.
Anonymous User

Leave a Reply

Your email address will not be published. Required fields are marked *