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Beware of Limitations to Your Personal Belongings Coverage(Fall 2007) << Back
If you’ve never thoroughly reviewed your homeowner’s policy, you could find yourself out of luck at your time of need.  When purchased, most people assume that their homeowner’s policy will provide the necessary funds to protect them in case any of their personal belongings are lost, damaged or stolen.  Let’s take a quick look at some of the more important policy limitations within your homeowner’s Policy that deal with items such as jewelry, furs, cash, some collectibles and the way we can help you to fill these gaps.
Coverage C, Personal Property, normally contains “Special Limits of Liability”.    While the following is not a complete list, the special limit for each category below is the total amount that your insurance company will pay for each loss for all property in the following list:
1. $200 for money, bank notes, bullion, gold, silver, platinum, coins and medals.
2. $1,000 for securities, accounts, deeds, evidences of debt, letters of credit, manuscripts, passports, tickets and stamps.
3. $1,000 for loss by theft of jewelry, watches, furs, precious and semi-precious stones.
4. $2,000 for loss by theft of firearms.
5. $2,500 for loss by theft of silverware, goldware, and pewterware.  This includes flatware, teas sets, trays and trophies made of or including silver, gold or pewter.
6. $2,500 for property on your premises used at any time or in any manner for any business purposes.
These items and the limits per item vary by insurance company.  Most of these limitations can be taken care of if we “schedule” these items or request a “Personal Property Floater” for you.   Call your insurance professional at AHTKY if you have any questions regarding personal property limitations on your homeowner’s policy and/or want to increase coverage for your valuables.
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AHTKY Insurance Agency, LLC
1451 W. Artesia Blvd, Suite A, Gardena, California 90248
CA License: 0C46036