Are Your Personal Belongings Covered?

Have you ever wondered what your personal insurance covers? You’d be surprised to know that your homeowners insurance can cover quite a lot that most people probably don’t even know about. Being that I’m located in deep South Texas, we will focus on homeowners insurance in brownsville tx due to the fact that since it shares the border with Mexico and the many cases of extreme weather from season to season, we feel it would the best way to show case what Texas homeowners insurance can provide it’s residents.

Like many of the homeowners policies you find across the country, Homeowners insurance in Texas has it’s exclusions and inclusions as well. Most people, particularly those who have limited education or knowledge industry, don’t realize that such hazards as flood (which in essence is a policy in itself), and for those counties that reside in areas prone to hurricanes, windstorm and hail is also covered in a separate policy.

Personal items are also covered within a homeowners policy but again, people who do not ask the proper questions on their coverages are completely unaware of what their insurance can offer them when it comes to their asset protection. Take, for example, wedding rings. Most people spend thousands of dollars on bridal wedding rings and many consumers are unaware that their homeowners policy has coverage for jewelry aside from personal belongings. You can also add an additional insurance rider to cover a specific amount in case your wedding rings are of an extremely high value. We have met couples in recent years who actually filed claims on their homeowners policies when it was realized that a diamond ring went missing. Who knew?

Now jewelry isn’t the only personal items that can or are covered by your homeowners policy, virtually, anything you deem of high value can be added specifically to your policy to provide that additional protection you are seeking. Let’s take purses in our case. Since we provide some of the highest quality purses on the market, your policy allows for you to place that particular item (your purse) as a specific named article on your policy. You do have to follow some of the guidelines that are in place, such as exact item value, bar code or serial number (if it has one), pictures, etc.. Anything that can prove the worth of the purse or whatever item you are having named on your policy.

 

 

Is all that necessary, you ask… Yes it is! At the time of a claim (we sincerely hope you don’t have to file one) all the information you provided about the item in question is utilized to help cover that particular item. Your policy can either replace it with the exact like and quality, or if your insurance company deems it appropriate, they can simply pay the replacement cost of the item as if you were purchasing it anew!

So don’t underestimate the power of your homeowners insurance policy and it’s usefulness in protecting your valuable personal belongings other than just your home. We always recommend you meet with your agent at least once a year to review your coverages and to determine if more or less is needed, depending on your situation.

Until next time!