Valuable Articles Insurance Coverage
Protect Your Treasures with a Valuable Articles Endorsement or Floater
How much is your jewelry worth? Did you inherit fine silver or china from your grandmother? Has your photography hobby advanced to the purchase of an SLR camera? Perhaps you've spent years accumulating a fine wine or stamp collection?
Valuable Articles Insurance Coverage protects personal belongings of a high monetary value such as:
- Artworks, including etchings, paintings, pictures and other bona fide works of art (such as oriental rugs, statuary, rare books, manuscripts and bric-a-brac) or rarity, historical value or artistic merit.
- Coins (rare and current)
- Fine Jewelry
- Fine Silverware, China or Crystal
- Golf Equipment
- Musical Instruments
- Personal Computers
- Stamps (rare and current)
- Wine Collections
- Other unique collections
*If you own something of value not listed above, it may still be eligible for coverage.
Your Existing Coverage May Not Be Adequate Protection
Chances are, your homeowners policy isn't nearly enough to replace your valuables if they are ever lost, stolen or damaged. Many valuable belongings exceed the standard limits of a homeowners policy. Some losses may not be covered at all, such as the loss of a stone from an engagement ring or an antique vase that is accidentally broken, or a flooded basement that damages your computer. In fact, most homeowners policies set dollar limits on the amount of protection offered to cover the theft of such items as jewelry or furs (usually only up to $1,000), firearms (up to $2,000), or silverware (up to $2,500).
Protect Your Financial Investment in the Things You Cherish
Brunswick Companies encourages our clients with these types of assets protect their financial investment in jewelry, collectibles, artworks, china, crystal, silver, antiques and virtually any other type of valuable. Our personal insurance specialists can help you improve your coverage by adding a Valuable Articles Endorsement or Personal Articles Floater to your Homeowners Coverage.
Valuable Articles Endorsement
An optional add-on coverage to the homeowners policy that enhances coverage by providing higher limits (typically up to $50,000 in some cases, but limited to $10,000 per item).
- Itemized and blanket coverage options
- No Deductible
- Limits Up to $50,000 with $10,000 per article
- Breakage Protection
- Coverage for "mysterious disappearance"
- Worldwide coverage
- Coverage for pairs and sets
- Cash settlement option
- Coverage for certain newly acquired items
Personal Article Floaters Provide More Comprehensive Coverage
A Personal Articles Floater provides even more comprehensive coverage than the Valuable Articles endorsement. It is designed to protect items that have been carefully selected and appraised, whose values exceed the limits of either a Homeowners Policy or a Valuable Items endorsement. A detailed schedule of the items is attached to your policy. Your premium is based on the total amount for which your special property is valued. You may want to photograph each piece in your collection and store the photos in a safe place. If your entire collection is stolen or damaged, it will be easy to remember each item for your claim report.
Valuable Items Policy
If you own extremely valuable items, this still may not be enough coverage. For example, if you own a diamond ring valued at over $10,000 or a collection of fine arts valued at over $50,000, you need more protection and should consider buying a separate Valuable Items Policy.
Since items of this nature vary so widely, losses are settled differently, depending on the type of property insured. For jewelry and fine arts, in the case of a total loss to a scheduled, appraised item, you are reimbursed for the agreed value shown on your policy.
For other classes of property on the policy (such as furs, silverware, cameras and personal computers) the value is not already agreed upon, and the value of your property will be determined at the time of the loss. You will then be reimbursed for either the:
- actual cash value of your property, or
- cost to reasonably repair your property to its previous condition, or
- cost to replace your property with a substantially identical item, or
- the applicable amount of insurance,
- whichever of these is less.
Your personal lines specialist is always available to help you understand the provisions of your coverage.
How much do you have at risk?
Contact Brunswick Companies today to learn how Valuable Articles Coveragecan help protect you. Our personal lines specialists will listen to your concerns, explain the scope of insurance protection available and recommend a program that best meets your expectations and financial goals.