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Protect your valuable personal property

January 15, 2015 – By Melissa Schall, Insurance Advisor, Wisconsin Medical Society Insurance & Financial Services

With the holiday season behind us, it’s the perfect time to think about insurance for your valuables. Whether your true love sent you five golden rings, or maybe you found a new camera or computer in your stocking, it’s important to take a moment to consider the valuable items in your household and if they are properly covered by an insurance policy.

For example, many standard homeowners policies have a total limit of $1,500 for loss by theft or misplacing of jewelry and furs. Some enhanced policies will increase that limit to $5,000 or $10,000. Keep in mind these claims are usually subject to the homeowners deductible.

To better protect high-value items such as jewelry, cameras, sports equipment, computers, stamp and coin collections or fine art, a policyholder can purchase additional coverage and schedule each item with a complete description and value in the policy.

Take the time to inventory your treasured items and update any appraisals. And be sure to speak with a personal insurance agent to ensure those valued pieces are adequately protected.

For more information about insuring your valuables, e-mail insurance@wismed.org or call 866.442.3810.

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