When Should You Consider a Valuable Items Policy?

Most homeowners and renters policies include coverage for personal property, but many people are surprised to learn that their standard insurance has strict limits when it comes to high-value items.

Jewelry, fine art, antiques, collectibles, furs, silverware, and even certain musical instruments often exceed the default policy limits. That’s where a Valuable Items Insurance Policy—sometimes called a personal articles floater or scheduled property endorsement—comes in.

What Valuable Items Insurance Covers
A Valuable Items Insurance Policy is designed to protect your most prized possessions against loss, theft, or damage. Coverage typically includes:

• Jewelry and Watches: Engagement rings, luxury watches, and family heirlooms often carry sentimental and financial value. Standard homeowners policies might limit jewelry coverage to $1,500–$2,500 per claim, but a Valuable Items Policy ensures you’re covered up to the appraised amount.
• Fine Art and Antiques: Paintings, sculptures, or antiques can be difficult and costly to replace. A specialized policy provides broader coverage for breakage, theft, or accidental damage.
• Collectibles: Whether it’s coins, stamps, trading cards, wine collections, or sports memorabilia, these items often hold significant worth that a standard policy won’t fully protect.
• Musical Instruments and Cameras: Valuable professional or hobbyist equipment is also covered, whether it’s used at home, on stage, or while traveling.
• Silverware, China, and Furs: Items commonly targeted in burglaries receive higher protection under a Valuable Items endorsement.

Most policies are written on an “all-risk” basis, meaning they cover a wide range of perils not typically included in standard coverage. This can include mysterious disappearance (when you can’t pinpoint exactly how the item was lost), accidental breakage, or damage during travel.

Why You Should Consider Valuable Items Coverage

1. Closing Coverage Gaps
   Homeowners and renters insurance are meant to cover everyday belongings—furniture, clothing, electronics. But when it comes to high-value items, the limits are often too low. Valuable Items Insurance ensures you don’t come up short after a loss.
2. Worldwide Protection
   Many policies extend coverage globally, giving you peace of mind when you travel with jewelry, instruments, or equipment. Whether your watch is stolen overseas or your camera is damaged on vacation, you’re protected.
3. Flexibility and Customization
   Policies allow you to “schedule” items individually at their appraised value. This means you pay premiums based on actual worth and avoid depreciation disputes. Some policies even offer blanket coverage for groups of valuables without having to list each piece.
4. Affordable Peace of Mind
   Valuable Items Insurance is often surprisingly affordable, especially compared to the potential financial loss. Protecting a $10,000 engagement ring might cost just a few dollars per month—well worth the investment for such a meaningful item.
5. Simplified Claims Process
   Because items are appraised and documented upfront, claims are usually faster and smoother. You’ll know exactly what your insurer will pay in the event of a loss.
   
   Valuable Items Insurance from Scalzo, Zogby & Wittig, Inc.
   If you own jewelry, art, collectibles, or other possessions that exceed the limits of your standard insurance, a Valuable Items Insurance Policy ensures your treasures are fully protected against theft, loss, and accidental damage, wherever life takes you.By calling us and scheduling these items today, you’ll enjoy both financial protection and peace of mind tomorrow.

   Until next time,

   Your SZW Team

   SZW Insurance is your Utica area Trusted Choice™ independent insurance agent. Call us for a quote on insurance for your home, car, business, or life at 315.792.0000. Or request a quote here.