Home, condo, or renters insurance policies provide an excellent package of protection. But, these insurance policies don’t automatically cover anything and everything you may own. There are coverage limitations in the basic policies for uniquely valuable items such as collectibles, fine arts, furs, and jewelry. As an example, home insurance policies typically limit coverage for jewelry to $1,000 and further specify this coverage is limited to theft losses.

You can upgrade your policy by purchasing a rider specifically insuring these types of items. A rider is basically a mini-insurance policy added to your home, condo, or renters policy covering a specific item or list of items.

You will usually need to provide documentation, such as an appraisal or receipt, that provides a description and value for the item(s) to be insured. These item(s) will then be individually listed on your insurance policy and insured for their full value – usually with no deductible and with expanded coverage. In our earlier example whereas a basic policy limits jewelry coverage to theft – requiring a known place of loss and a police report – with a rider your coverage for the specified items expands to include common loss situations such as a gemstone falling out of a setting or a jewelry item that simply goes missing.

Did you know?
Our home, condo, and renters insurance quote forms include an option to request “rider” coverage for jewelry and other valuables.

Click here to get a quote.