Whether you own your home or rent, you may need specialty insurance without even realizing it. For most people, specialty insurance covers belongings such as jewelry, artwork, and collectibles that exceed your home or renter’s standard policy limits, which can be quite low. If you live in the Denver, CO area and want to know whether you might benefit from specialty insurance, let our team at AFI Insurance walk you through your options.
Specialty Insurance Options
The typical home or renter’s insurance has limits on the total value of your household belongings and by category, with many limiting the coverage for the theft of jewelry, watches, and furs to $1,500. Many households have engagement rings or other items worth well more than $1,500, so the need for additional coverage is widespread.
Among your options for these valuables are:
- Higher Policy Limits- This approach increases the standard policy limits. While they are simple to execute, the increased limits often remain below the level needed.
- Riders or Endorsements- Policyholders can add riders or endorsements to their home policies that insure specific items outside the normal limits. These work well for those with a few valuable items.
- Specialty Insurance- These distinct policies cover specific items or collections against theft, damage, or loss and require professional appraisals of each item. An added benefit is that a claim on a specialty insurance policy does not affect your home policy, making them the appropriate solution for many with moderately priced valuables.
Working with AFI Insurance
Each client has unique insurance needs. AFI Insurance proudly serves the Denver, CO area, and can help you obtain a specialty insurance policy to protect your valuables. So, call or stop by today to discuss your specialty insurance options.