We all have certain items of personal property that we just can't ever imagine losing. You can protect the personal items that mean the most to you though through a scheduled or special personal property endorsement that's custom fitted to meet your personal needs. Some items of personal property might be impossible to replace because of their present day value, or they're so close to your heart that they just can be replaced. While these items might be covered on your homeowners policy, it's likely that you only have partial coverage. Do you really want things insured for only 20 percent of what you paid for them? That's why you'll want to think about special or scheduled endorsement coverage.
Take a look around your house, make an inventory of all high value items, and take photos or a video. Record any serial numbers, and keep your inventory and other documentation away from your home. You're likely to be surprised about how long that list is of items that you hope you never lose. For most people these items consist of jewelry, art, furs, antiques or musical instruments. Then talk with us after that. We'll let you know what you might want to have more coverage on.
Here's a good personal property example for you. Let's say you inherited a $10,000 Cartier watch, and it's ruined in a fire. Under the terms of a standard homeowners insurance policy, that watch might only be insured for $1,000. That's why you want to schedule or specially endorse it. When it's scheduled or specially endorsed, you have expanded coverage that makes up for otherwise insufficient coverage, and as opposed to a standard homeowners policy, it's for just about any reasonable risk that you can think of. You can specially schedule or endorse as much personal property as you want. You need only have a paid receipt or certified appraisal for each item.
Special personal property deserves special treatment. That's why you want to consider scheduled or special endorsements. They're an affordable alternative that you might be glad that you had one day. Part of our job is to make sure that your home and valuable possessions are sufficiently insured. So go ahead and start taking that inventory, gather those receipts and appraisals, and then call Value Plus at 952-435-0550 when you've done all of that. We'll get you headed in the right direction. We've earned the trust of our clients.