What is Valuable Items Insurance?
Personal property coverage is normally a staple of homeowners, condo and renters insurance policies, but the amount of personal property protection that these policies offer for valuables is sometimes limited. Massachusetts residents who have lots of valuable items, or even one particularly expensive piece, may need more coverage. Valuable items insurance may offer the additional protection that’s needed.
Valuable items insurance is a special type of personal property coverage that’s specifically designed for insuring expensive articles, items or pieces. Policies are typically purchased along with a homeowners, condo, renters or similar policy.
Who in Massachusetts Needs Valuable Articles Insurance?
Valuable articles insurance is normally purchased by Massachusetts residents who have expensive items that they want to protect. This insurance may be appropriate anytime a homeowners, condo, renters or similar insurance policy doesn’t fully cover the replacement cost of an expensive item.
Does Homeowners Insurance Cover Valuable Items?
Homeowners, condo and renters insurance all usually provide some coverage for valuable items, but the coverage offered for these items is often lower than the general personal property coverage limit. In some cases, policies might only offer a minimal amount of protection for valuable items.
Since policies’ exact coverages vary, residents should ask an insurance agent who’s familiar with the nuances of insuring valuable items to check their specific homeowners or similar policy. An insurance agent will know where to look for item-specific limits, and they’ll be able to explain how those limits might impact coverage for valuable items.