While it’s true that home insurance also covers your belongings, items of a higher value might fall outside of the scope of that protection. In this case, you’ll need to implement additional insurance policies that are designed specifically to cover these high-end items. Below are a few common belongings that call for additional coverage.  

Which Items Usually Require Additional Insurance Coverage?

1. Jewelry

When insuring jewelry, you must decide between actual cash value and replacement cost policies. Actual cash value is the value of an item minus depreciation. Replacement costs don’t factor in depreciation, but you will be limited to a maximum payout if the piece is damaged, lost, or stolen. While these policies may be a bit more expensive, they do offer extra comfort. 

2. Artwork

Artwork is an excellent way to invest your money, especially when collecting pieces by certain artists. The first step to insuring artwork is to determine its value, which can be more difficult than one might think. You may need to enlist the help of an appraiser, who will look at several different factors. You’ll also need to ensure that the art is protected against many different perils, such as theft, damage, or even misplacement. 

3. Firearms

Firearms can be expensive. Additionally, they are attractive to burglars since they bring in a lot of money when sold illegally. Along with storing all firearms in the home in a secured safe, you should make sure you have sufficient coverage to compensate you in the event of a loss. You should have an understanding of the value of the guns before you begin, too, which requires taking an accurate inventory. 

Beadle Insurance Agency provides clients in Lubbock, TX, personal property insurance for valuable items like the ones listed above. Because they work with many different carriers, they can help you secure comprehensive protection at affordable prices. They also provide many other products, including auto, farm, and life insurance. Schedule a consultation today by calling (806) 385-3426. You can also learn more about their personal property protection by visiting the website.