This is not necessary but in the event of a loss, having this information would be very helpful. Keep your home inventory in a safe, accessible place in the event you need to file a claim. You can use this PDF to get started.
Is my jewelry covered by my homeowners policy?
On a homeowners insurance policy, there is limited, standard coverage available for your jewelry. In most cases, you may want to consider purchasing a Personal Articles Floater, which provides coverage for your jewelry when its value is higher than the limits stated in your homeowners policy.
How do I make sure I have coverage for my valuable items?
A homeowners insurance policy provides limited coverage for your valuables. In most cases, you may want to consider purchasing a Personal Articles Floater, which provides coverage for your personal articles, such as jewelry, furs or fine arts, when their value is higher than the limits stated in your policy.
What is replacement cost?
Your home is probably the single largest investment you’ll ever make. By insuring your home, you are helping to protect your investment.Estimating the cost to rebuild your home will help you decide the amount of insurance you’ll want to purchase. The primary factors that’ll determine the cost to rebuild your home include:
- Local construction costs
- The square footage of your home (and the number of bathrooms and other rooms)
- The type of exterior wall construction – frame, masonry (brick or stone) or veneer
- The type of roof
- The number of floors (one to four stories, bi-level or split level)
- Special features like attached garages, fireplaces, exterior trim and arched windows
- Quality of materials and finishes throughout the home
How does my local fire department impact my homeowner’s policy?
Each fire protection agency (including your local fire department) is reviewed by the Insurance Services Office (ISO) and ranked based on their fire protection services, such as fire equipment, staffing and available water supply. The ranking is called the Public Protection Class (PPCTM) with 1 being the best score and 10 being the worst score. Many insurance companies use the PPC rating and the distance your home is from the nearest legally responding fire department to determine whether they will insure your home and how much to charge
What is the difference between market value and replacement cost?
Market value is the amount a buyer would pay for the home and land in its current
condition. It is influenced by factors such as proximity to good schools, local crime
statistics, and the availability of similar homes.
Replacement cost is the cost to replace the entire home. When you insure your home
for its estimated replacement value, your insurer will reimburse you for the cost of
rebuilding your home, subject to policy limitations, based on the size and structure of
the home that was lost.
Replacement cost is not:
- The market value of the home
- The home’s purchase price
- The cost of the land
- The outstanding amount of any mortgage
What does a homeowners insurance policy cover?
Unless the cause of loss is excluded in the policy, a homeowners policy provides
coverage for personal liability, medical payments to others and accidental direct
physical loss to your dwelling.
In addition, the policy provides coverage for your personal property for specific perils
including, but not limited to:
- Fire
- Lightning
- Windstorm
- Hail
- Theft