The holidays are behind us which means it's time to take stock of those wonderful gifts that were received.  Many people don't realize that some of those expensive gifts are not completely covered by their insurance policies if they are lost, damaged, or stolen.

Most homeowner's insurance policies contain significant limitations on theft for certain types of property.  These typically include:

        -  Jewelry
        -  Furs
        -  Silver sets
        -  Firearms
        -  Coin and stamp collections

Not only is coverage limited for theft, but there is no coverage for "losing" an item which is a frequent occurrence when it comes to jewelry.

The solution is found in actually scheduling (specifically listing) these items either on your homeowner's policy or in a separate policy.  Scheduling your valuables will ensure that you receive the full value of the insurance purchased for these items in the event of a covered loss.  Scheduling will also provide insurance for lost items.

The holidays are not only a time when gifts in these categories are received, but also a good time to take stock of all items you own in these categories.  Be sure to call PCG Agencies to speak to one of our risk managers who will walk you through an analysis of the coverage and cost for scheduling these items.

***This literature is descriptive only.  Actual coverage is subject to the policy as written.  This information may also vary by state.
Posted 12:02 PM  View Comments

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