If you bought expensive jewelry or coins for Christmas, or maybe you already have a valuable coin collection, then this important tip is just for you.

Did you know… Most basic homeowner insurance policies won’t cover the full loss of your bullion, valuable coins, or jewelry …if they are stolen, lost, or damaged?

American Gold Buffalo

Typically, policies have a policy limit of only $200-$300 total for these losses. So if your valuables are worth more than that, your policy will only cover up to that amount in the event of theft, loss, or damage.

Fortunately, you can buy an insurance rider or a special policy specifically for valuable personal property. And the investment is pretty reasonable.

Your insurance company can provide you different options , coverages, and prices depending on exactly what you have, values, and your level of risk tolerance.

I’m not going to go into all the details here, or provide insurance advice.

But since many people assume their valuables are automatically covered by their homeowner’s insurance, and it’s usually not, I figured you should know.

What you can do now to protect your valuables
from theft, loss, or accidental damage:

Make a detailed inventory, including how much you paid, and current value.

Note: Exclusions, deductibles, and premiums vary from policy to policy depending on your insurance company, so you will need to contact your insurance agent to find out exactly what options and coverage is available for your valuables.

You’ll sleep better knowing the facts.

Leave your comments or questions below.