Renters Insurance Plano TX

Renters Insurance And Your Jewelry

Understanding Your Protection For These Valuables

When you rent, your insurance coverage is very affordable. Because renters insurance only needs to cover your personal property and your liability (as opposed to the whole building and property), it costs less than homeowners insurance. It is still important, though, to understand exactly how far your coverage extends.

If you own jewelry, you need to know if your existing policy will offer enough protection for these valuables. Your policy can protect your jewelry in one of two ways. Some will offer coverage up to a certain limit for each covered piece of jewelry. This limit is usually set at $1,000 or $1,500. Others will offer a group limit, in which case you will get a lump sum of coverage (e.g. $2,500) for all of your jewelry. It is important for you to understand what type of protection your renter’s insurance policy offers for your valuable jewelry.

If your jewelry is worth more than your coverage limit, you can still use your policy to fully protect it. Talk to your insurance agent about adding a rider to your policy that specifically covers your jewelry. This way, you can ensure that you have the protection you need for the full value of your jewelry.

In order to get a rider, you need to have your jewelry professionally appraised. This will give you the accurate value of your jewelry so you can accurately cover it. Carrying a rider based on a professional appraisal will help you know that your jewelry is properly protected, giving you peace of mind.

If you have questions about your coverage, do you have a dedicated agent with whom you can speak directly? To get the renters insurance you need with an agent you can trust, contact Tri-Star Insurance Professionals in Plano, Texas. We are here to help you get the coverage your valuables deserve.