Home insurance doesn’t just protect your home’s structure; it also covers particular personal possessions. You can choose between a cash value policy, which compensates for the actual value of lost or damaged items, or a replacement cost policy, which covers the cost of buying a new item to replace the one you lost. However, homeowners in Cincinnati, OH, should be aware that certain types of valuables are not typically covered under a standard home insurance policy.
Uncovered Valuables and What to Do About Them
Standard home insurance policies are not designed to cover high-value items such as collectibles, antiques, jewelry, precious metals, furs, fine china, or medical devices. If you own items in these categories, it’s a good idea to have them appraised to determine their value. A personal property endorsement can cover individual items, but for larger collections, you may want to consider purchasing collectibles insurance. Additionally, if these items are business assets rather than personal belongings, ensure your policy is a commercial one.
Keep in mind that the value of many collectibles can fluctuate over time. It’s recommended to have your items appraised every few years and adjust your insurance coverage accordingly.
Call McCluskey Insurance Services LLC for More Information
Do you own expensive or specialized items that aren’t covered under a standard home insurance policy? If so, our team at McCluskey Insurance Services LLC can help you identify and purchase insurance that provides the extra coverage you need. We serve homeowners and business owners in and around Cincinnati, OH, and work with multiple carriers to help you find great deals at competitive prices. Contact us today for more information or to request a price quote.
