How will increasing my liability coverage protect my valuables?
Your insurance agent will need to know what valuables you are hoping to protect and their rough value. This type of blanket coverage may be cost-efficient if the value of each item you’re hoping to insure is under $2,500.

If I schedule items, what are the caps?
Items of value worth more than $2,500 generally should be scheduled. Ask your insurance agent whether your policy has limits on how much of an item’s appraised value is covered.

What situations would compromise coverage?
Ask under what conditions your insured valuables would not be covered. For example, some insurers won’t cover valuables that are more than 25 years old, since they are more fragile and susceptible to damage. Or if you do not have an alarm system at home, your premium may be higher.

Do I need an appraisal?
If your insurer requires a professional appraisal, find out whether the insurer provides one or you do. Also ask how often you’ll need an appraisal to remain fully insured. Ideally, you want coverage to keep pace with the item’s value.

What does the insurer require when filing a claim?
Too many homeowners and renters wait until they must file a claim to learn what they should have done to expedite payment. For example, insurers may respond faster when valuables are photographed or videotaped and documented with original receipts.

Under what conditions will payment be denied?
This is perhaps the most important question of all. In some cases, if you did not take reasonable steps to protect your valuables and they are stolen or destroyed, an insurer may balk at payment or delay your check. For example, leaving jewelry behind when evacuating ahead of a storm may be deemed reckless or negligent. Make sure your insurance agent is very clear about no-pay or slow-pay scenarios.