It happens all too often. If it hasn’t happened to you personally, you probably know someone who has experienced this before. Nothing can explain that horrified feeling of coming home to find someone has broken in and taken all your valuables, including some inherited jewelry belonging to your great grandmother. Your valuables are precious and the thought of losing them or having them stolen or lost can be devastating. Look around you right now and think about the personal items you possess and love. If something happened to them, would you have the protection for your valuables that you need?
Protect What You Love
If you are a collector of any rare items such as furs, coin collections, art pieces, or have a lot of expensive jewelry, you may want to consider what would happen if you lost them, a fire destroyed them, or someone broke in and stole them. Imagine going on vacation for a month only to come home and learn while you were gone, someone invaded your home and stole all of your prized possessions. Not only are you devastated and angry, but you also know that your home and security have been violated. You proceed to contact your insurance company only to learn that yes, theft is covered under your Alabama homeowner’s insurance policy, but has specific limitations on the amount covered for valuables such as jewelry, guns, furs, etc.
After tallying the estimated cost of your stolen belongings (including jewelry, guns, and cash) you realize your loss (due to theft) is over $50,000. Without having any type of endorsement on your Alabama homeowners policy, you are out of this money except for what is provided under the limitations set forth under your homeowners policy.
Consider This Endorsement For Protection of Your Valuables
Having limited coverage for your valuables may mean you should consider adding additional coverage through an endorsement. Having a scheduled personal property endorsement, or rider, means that should a covered loss occur, your possessions will be insured for their replacement value. For a nominal fee, this is priceless knowing that if something should happen to your valuables they can be replaced up to their established values.
Take Inventory of Your Valuables
Any valuables that are dear to you should be protected properly. In an effort to do this, you should take a complete inventory of your valuables in order to document their value. Below are ways you can take inventory of your prized possessions and then discuss and assess with your local Alabama independent insurance agent:
- Take photos of all valuables
- Document the manufacturer, model, purchase price, and description
- Maintain current appraisals (every 3 years) on valuables
Communicate with Burkett & Associates
Keeping your agent informed of your valuables and any changes and/or additions can help maintain an established value of all the personal possessions you cherish. Having the necessary documentation in place should a covered loss occur can lead to a much faster and prompt settlement. Don’t wait! Call our offices TODAY at 256-704-7400 to discuss your valuables and the best way to protect them.
