![]() ![]() Do I still need comprehensive/collision on my car? The best way to keep track of your belongings and make sure they are adequately insured is to create a home inventory- find out how here.ģ. Floaters and endorsements are priced on the appraised value of an item or collection so have periodic reappraisals done to make sure you are purchasing only the amount of coverage you actually need. This coverage includes “accidental disappearance,” meaning coverage if you simply lose that item-and there is no deductible.īut remember that items can go up or down in value. To insure these items to their full dollar value, consider a special personal property endorsement or floater. This means that the insurer will only pay the amount specified in the policy-generally $1,000 to $2,000. Have you bought or received as a gift any valuable jewelry since you purchased/renewed your policy? And, when was the last time you had the items you owned appraised? Standard homeowners insurance has dollar limits for the theft of certain types of expensive items like jewelry, furs and silverware. Do I have enough coverage for expensive items? ![]() If you have made major improvements to your home, such as adding a new room, enclosing a porch or expanding a kitchen or bathroom, you risk being underinsured if you don’t adjust your homeowners insurance coverage limits.Īnd if you don’t yet have a separate flood insurance policy, now would be a great time to check whether your home is in a flood risk zone at .įor more information: How Much Homeowners Insurance Do I Need? Does My Homeowners Insurance Cover Flooding?Ģ. Review your policy to make sure that you have enough insurance to rebuild your home. Is my home covered for its full rebuilding cost? Instead of just dusting around the corners of your insurance policies this year, take the time to read them over and ask yourself the following key questions:ġ. “So why not make a policy review part of your spring cleaning ritual?”Īs your life changes so do your insurance needs. Salvatore, the I.I.I.’s SVP and Chief Communications Officer. “Just as it is important to look at your wardrobe, electronics and other personal items to see what needs to be tossed, fixed, updated or stored for the coming months, everyone should do a thorough evaluation of their insurance coverage at least once a year,” says Jeanne M. New York Press Office: (212) 346-5500 YORK, ApSpring may be the traditional time of year for cleaning out closets and drawers and organizing attics, but it is also a great time to review of your insurance coverages, according to the Insurance Information Institute (I.I.I.). ![]()
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