Most home owners policies cover lost or stolen items up to $1000. If you have added high value items to your policy in the past, it’s extremely important to understand how your insurance policy coverage works. If you don’t have scheduled personal property insurance added to your homeowners policy, then it’s likely that you won’t be covered for any item over $1000. If you have a blanket coverage for jewelry or valuable items, then you will only receive cash value from your insurance company as opposed to full replacement value. Scheduled personal property coverage should be added to your homeowners or renters insurance if you have any relatively valuable items in your home such as wedding rings, bracelets, watches, precious stones, cameras, silverware, fine art, antique books, extensive collections, golf equipment, power tools and furs.
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