You may think that homeowner’s insurance policies cover everything. However, insurance policies generally do not have the total coverage you need. Valuable items may be insured, but only at limits specified in the policy. Limits do keep homeowners policies affordable for all policyholders.

For example, your insurance policy has a $1000 policy limit on your jewelry. However, your engagement/wedding ring alone is valued at $2000.  If that ring is stolen, you will only receive the $1000 from the insurance company. One thousand dollars doesn’t cover the total amount.

You may need to add a rider or an insurance endorsement to help provide the increased coverage you need for your possessions. An insurance rider will be an additional premium, but this premium will cover your high-end valuables and is very worth what you pay.

Five Steps to Adequately Ensuring Your Possessions

  • Take the time to read your insurance policy. An insurance policy is a contract between you and the insurance company. This policy covers damaged or stolen items. Read through to discover the items that are not adequately covered. Contact a trusted insurance company in Utah if you have questions.


  • Get your valuables appraised. Don’t just leave it to your memory of what you think you paid for valuables. They may be worth much more than you think. An appraisal will give you a bottom line value.


Get appraisals from a professional. Some valuables do increase in time. If these items rise in value, check with a trusted insurance company in Utah to find out if you need more coverage.


  • Take inventory of all your possessions. Check your basement, attic or garage for hidden valuables. You may have antiques and collectibles you did not realize were valuable. List all items even if you don’t think they are valuable, include copies of appraisals and receipts if you have them. Take a video of your home possessions and pay attention to valuable items like electronics. Keep the video in a safe place – like a safety deposit box.


  • A useful tip is to check out your neighborhood’s crime rate. If your community has a high crime rate, you may need additional coverage to protect your valuables. Police departments track crime stats in your community and will share this information with you if you only ask. Talk to a trusted insurance company in Utah for more advice on what type of insurance policy you need if you live in a high crime area.


There may be discounts on an insurance policy for a security alarm system. You can check with your trusted insurance company about this option.


  • Pay particular attention to your electronic equipment. This is a high-tech world and people have a plethora of electronic equipment in their homes. Some of this equipment is for entertainment, and some is for work.  Electronics enhance your life, and you don’t want a thief to come into your home and steal your electronics. List your valuables so they can be added to your insurance policy.


A “professional” home thief reported that she and her gang could take all the electronics out of a  home in under three minutes. Scary! They can sell these electronics on the black market for hundreds of dollars, and you have lost thousands of dollars.


  • Ensure that your valuable items are in a safe place and discuss with a trusted insurance company in Utah if you need a rider or additional coverage. You need to read through the extra insurance policy about the limitations and exclusions in this new policy.

Why do you need insurance for high valued items?  

If you have very valuable items in your home like jewelry, furs, artwork, or collections, they won’t be covered by a standard homeowner’s insurance policy. Again, get these items appraised and employ the most trusted insurance company in Utah to catalog and insure them separately.

Listing the higher-value items in your home by an insurance company is called scheduling, and scheduled items fall outside general policies. This is to make sure those with less valuable property don’t pay the higher premiums to ensure the valuable goods of a few. However, you may have valuables in your home you don’t realize are valuable. Go through your home and make sure everything is listed and safeguarded by your homeowner’s insurance policy.

As an example, one family had an old 1920s wooden radio sitting in their living room. They thought the radio was just interesting “junk.” After watching “The Antiques Road Show”, they had the radio appraised. It this piece of “junk” had been stolen; it would have sold on the antique market for over $3000. They contacted a trusted insurance company in Utah and added this antique to their insurance policy.

It’s well worth have all your valuables appraised and added to your homeowner’s policy. This rider will give you peace of mind that anything you have that may be valuable can be replaced.

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