Over the years we at Herlihy Insurance Group have learned that our clients have all sorts of collections and valuable items. Whether it is jewelry, fine arts, rare books, antiques, sports memorabilia or wine, if you have collections or other high valued items we suggest you review the option of insuring these items on a “scheduled” and “special coverage” basis.
Your standard home, condo or apartment insurance policy will provide you with very limited coverage on certain higher valued items. For this reason we suggest you review with your agent any collections or specific valuables that are valued at more than $5,000.
If you do have valuable items, ask yourself the following questions about the insurance you have chose for these things.
- Is this item insured to its “full replacement value”?
- Is this item insured on a “special risk” basis? Do I know what it is NOT insured for?
- If this item is “ lost or mysteriously disappears” will my insurance respond?
- If I have a covered claim on my insured item and the item is irreplaceable, how will my loss be paid by my policy?