Valuable Items on Homeowner Policy

All homeowner companies have limitations in the event of theft to valuable items.  Each company has their own limits; however, most companies are pretty close similar and take it one step further a company like SAFECO has 4 different homeowner programs in Missouri.  Safeco's 4 homeowner programs each have different limitations in event of theft to silverware, program 1 $1000, plan 2-$3000, plan 3-$5000 and plan 4-$10,000.  As always it is up to client to keep the insurance agent up to date.  

A policyholder can request the better plan to fit their needs or keep with a basic plan then either BLANKET or ITEMIZE extra silverware, jewelry or fine arts etc.  The difference between Blanket and Schedule means not having an appraisal and having an appraisal.  Scheduling is best way as the appraisal gives a detailed description and current value.  Blanket is simply a best known estimate and the blanket coverage carries a maximum per any one item value and has a deductible per occurrence.  The scheduled item does not have a maximum per item and does not have a deductible. 

If a person fails to either blanket or schedule a category then in event of a loss to item(s) there is a good chance there is NO coverage as the basic homeowner policy does not include Mysterious Disappearance.  If there is coverage and no blanket or schedule is on policy the category stolen is subject to policy deductible and the category limitation.  Any further questions contact your insurance agent/producer or Flanigan Insurance at 314-727-6000.