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Insuring Your Possessions with Online Homeowners Insurance Quotes Policies

Know what kind of a homeowners insurance quotes policy you're buying

In some cases, it makes more sense to buy a homeowners insurance quotes policy that's been especially designed for people with a taste for expensive goods. The Chubb Group, for example, offers homeowners insurance with more jewelry coverage than most, but there are still limitations on coverage. To secure the broadest coverage available, you can purchase a Valuable Articles coverage and have your jewelry "scheduled," with each piece described and individually valued. Chubb's Valuable Articles coverage is "all-risk" and covers most causes of loss. With this agreed-value approach, you get the scheduled amount with no deductible or depreciation in the event of a total covered loss.

If you have a collection of fine items of less-substantial value, it might make sense to take out a blanket coverage rider on them. Categories for blanket coverage vary, but generally include jewelry, fine art, silverware, cameras, musical instruments, furs, wine, stamps, coins and collectibles. Provided that no one piece of your collection is worth more than $2,500, blanket coverage may be the way to go.

Chubb gives its customers the choice of listing valuable items separately or lumping together possessions that fall into a single category, such as jewelry or a wine collection. If you want to insure something valued at more than $50,000, you'll have to hire an appraiser to document its value. Listing valuables separately will effectively settle the loss before it occurs. If the homeowners insurance company has documentation proving that your antique armoire was worth $55,000 and the armoire burns in a fire, your dollar figure is already set and you'll avoid haggling with claims adjusters.

If you want to list items separately that fall below the $50,000 threshold, then it's simply a matter of describing them and estimating their worth. Some homeowners insurance insurers might not require a bill of sale to document the value of items worth less than $50,000, but other insurers may have more stringent requirements.

Regardless of how you decide to insure your treasures, you should make sure you know about any cases in which the homeowners insurance quotes policy will not pay out. In general, policies and riders for fine valuables give pretty broad coverage, including losses resulting from just about any peril you can think of, except nuclear explosion, war, or intentional acts of destruction. Other things most homeowners insurance quotes policies of this type will not cover are musical instruments or cameras used for profit -- similar to the common exclusion of laptop computers used for business purposes.

Also, most regular homeowners insurance quotes policies will not pay to replace what some insurance companies call "items of antiquity." In some cases, that means anything more than 25 years old, but the definition can vary depending on your company. That's another reason to take out a special rider on any antiques you own.
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