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Insurance for Personal Valuables can include coverage for furs, jewellery, antiques, collectibles, coins, stamps, wine, fine art, musical instruments, and more. Insurance for these items is not just a good idea, it's a necessity. That's because a regular home insurance policy, which covers your personal property, has limits on how much it will pay for certain kinds of pricey items. Don't worry, Holman Insurance Brokers Ltd. has you covered!

If you want to make sure that your valuables are covered, you'll need to make special mention of them to your insurance broker when you buy your homeowners insurance. You'll probably have to take out a separate endorsement and schedule items like the ones we're talking about here. That means you'll pay a bit more for your policy, but if you don't schedule these items, you may not be fully covered for loss or damage to your special belongings.

In some cases, it makes more sense to buy a policy that's been especially designed for people with a taste for expensive goods. Some Insurers such as Lloyd's, Royal SunAlliance and Chubb Insurance Co. have special policies for homeowners insurance with more jewellery coverage than most, but there are still limitations on coverage.

To secure the broadest coverage available, you can purchase valuable articles coverage and have your jewellery "scheduled," with each piece described and individually valued. Valuable Articles Coverage is "all-risk" and covers most causes of loss. With this agreed-value approach, you get the scheduled amount with no deductible or depreciation in the event of a total covered loss.

If you have a collection of fine items of less substantial value, it might make sense to take out a blanket coverage rider on them. Categories for blanket coverage vary, but generally include jewelry, fine art, silverware, cameras, musical instruments, furs, wine, stamps, coins, and collectibles. Provided that no one piece of your collection is worth more than a specified limit for example, say $2,500, blanket coverage may be the way to go. If you want to insure something of high value, or for collections or antiques, your insurer will require certain items to be appraised to document their value. Listing valuables separately will effectively agree the value for the items before a loss occurs.

One other thing that most policies of this type will not cover is musical instruments or cameras used for profit. Again, not to worry as Holman Insurance Brokers Ltd. commercial department has you covered here.