By Tressa Walton
It’s a common question we get asked and so many people assume incorrectly! You do have some coverage for a wedding ring under the personal property portion of your homeowner’s insurance but only for the basic perils of fire, lightning, wind, etc. If you want your jewelry or other personal property covered for things like theft, a piece breaking off, or any other perils, you need to schedule the item. Scheduling items is pretty easy, you just need to state the value and give a fairly detailed description of the item. You can typically select the deductible amount you want on that particular item as well ranging anywhere from $0, $50, $100 or $200. Some examples of things that people schedule besides jewelry include hearing aids, bicycles, paintings, fur coats, and cameras. The cost to schedule an item depends on what the item is and the value that you are insuring it for.
Scheduling jewelry can definitely be worth it. We’ve all heard the story of how we took our wedding ring off to put on lotion and one of the kids knocked it off the counter and into the toilet and down it went. If you have it scheduled, you can get it replaced. I would encourage you to look over your policy and call your agent to find out if you have your prized possessions scheduled or how much it would cost to add that coverage.
If you want to review your policy, we’d be happy to go over it with you. Give us a call 319-472-2379 at Wilson-Hite Insurance.