Your home insurance policy covers everyday belongings such as furniture, electronics, and clothing. However, when it comes to high-value personal property like fine art or jewelry, your homeowners’ policy likely has limits that fall short of what these items are truly worth.

If this applies to you and you live in Washington, PA, The Hansen Agency LLC can help you add a scheduled personal property endorsement to your policy for better protection.

What a Standard Home Insurance Policy Actually Covers

Most home insurance policies in Washington, PA provide personal property coverage at about 50 percent of your dwelling limit. While this may sound like a large amount, many categories of valuable items have low sublimits within that broader coverage.

For example, jewelry may only be covered up to 1,500 dollars, and firearms may be capped at 2,500 dollars. If you have a jewelry collection worth 50,000 dollars, a standard policy limit of 1,500 dollars would leave you paying the difference out of pocket unless you have a scheduled personal property endorsement in place.

How a Scheduled Personal Property Endorsement Works

A scheduled personal property endorsement is an add-on to your existing home insurance policy. It is often referred to as a rider or floater.

To set it up, you begin by having your high-value items professionally appraised. Proof of purchase can also help, and photos of each item are recommended.

Each piece is listed individually on your policy with its appraised value. If an item is lost, stolen, or damaged, the endorsement provides coverage up to the full amount listed for that item.

Adding High-Value Personal Property to Your Policy

After your items are appraised, your insurer uses that documentation to determine how much coverage you need. The Hansen Agency LLC can guide you through the process to ensure your valuable belongings are fully protected.

Many scheduled property endorsements come with no deductible or only a small deductible. They also tend to offer broader coverage than what is included in a standard home insurance policy, sometimes extending to accidental loss or damage that occurs away from your home.

Be Clear on What Your Policy Covers

High-value items often carry both financial and sentimental significance. Proper protection helps safeguard them in the event of an unexpected event. Contact your insurance provider today to start protecting the items that matter most to you.