Additional Coverage For Special Items
Your basic renters’ insurance policy should be enough to cover the basics in the event of a loss, but there will most likely be dollar limits on certain items. If your items have more value, you’ll need to purchase riders to fully cover them. Here is a list of items that typically would have a dollar cap placed on your coverage and the typical limits.
- Cash – $200
- Securities, passports and stamps – $1,500
- Theft of jewelry and watches – $1,500
- Theft of firearms – $2,500
Again, these are typical but may not reflect your limits. Check with your agent so you are informed on what and how much your policy covers.
It is also a recommended practice to inventory all of your items. This will help ensure you’re compensated for any belongings you lose. List each item, its value and serial number when possible. Photograph or videotape each room, including closets, open drawers, storage buildings and your garage. Keep receipts for major items in a fireproof place.