The answer is always
Two points to consider...
1. At time of loss, it is the insureds responsibility to prove ownership. What better way to prove ownership than by having an item listed.
2. Insurance policies have an exclusion for mysterious disappearance. Meaning, if your diamond falls out of it’s setting, or if someone grabs your necklace, unless the item is scheduled, their will be no coverage on your insurance policy.
And for jewelry, guns, coins, money, art, etcetera, your policy has limits as to what will be paid. The problem here is when your house is robbed and the loss exceeds the policy limits. But, of course, it will never happen to you. I understand, The most common phrase I hear after a loss is, I’ve never had a claim, I just didn’t think it would happen to me. Unfortunately, it does happen to you. The real unfortunate part is when it happens to you and you don’t have the proper coverage in place. The key is to insure properly. Higher valued items should be scheduled, especially, jewelry, collectibles, guns and art to name a few. I know those that had losses and not enough coverage wish that they could have turned back the clock. Use this notice as fair warning, you have a choice today as to the outcome of losses in the future.
And one last thought. Have you ever wondered what "ALL PERIL" means? As in an "all peril policy". Simple put, all peril means, your stuff is covered no matter what except what is excluded or limited by the policy. Jewelry may be covered on an all peril policy, so even if the loss is a mysterious disappearance the jewelry is covered, however, the policy may limit the coverage to 2,000.00 and that is why you need to see #2 above. Bottom line? Read your policy and ask you licensed insurance agent about that which you do not understand.
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Call us with your questions, schedule your valuables, we are a phone call away. 651-738-0107