Does my NC homeowners insurance policy cover my jewelry or should I buy a separate policy for this?

Most people are surprised by the answer.

The NC home insurance policy, whether the standard homeowners, renters or condominium form, limits the amount of coverage on jewelry to, in most cases, $1,500 for theft.

So what is the best solution?

Insure jewelry with an Inland Marine Policy (“Personal Articles Floater”).

This is a “mini insurance” policy which may be purchased alone or added to you NC homeowners policy by endorsement.  It adds coverage for specific high value items such as jewelry, artwork, musical instruments (non-professional), cameras or high value electronics such as laptops and ipads.  Here you have coverage for the scheduled item up to the appraised value, often with no deductible.  Additionally, coverage would be broadened from “named perils” (limiting losses only for named perils such as fire, wind or theft) to “all risk” meaning any type of physical loss unless specifically excluded.

Rates are surprisingly low.  For jewelry as little as $9.50 per $1000 appraised value per year.

So here is what to do if you have questions on insuring jewelry:

• Get your jewelry appraised. – Most jewelers can do this on site for a small fee.  Often the appraisal is done for free at the time of purchase.
• Call the Harper Agency. – Ask for a quote.
• Ask about discounts. – Just like you receive a discount when insuring your North Carolina Home Insurance with your NC auto insurance, you may be eligible for further discounts.

The Harper Agency wishes to be your Burlington insurance company.  We are also experts in providing North Carolina Business Insurance including Daycare Insurance and NC Workers Compensation Insurance.  Also ask us about Raleigh insurance and High Point car insurance.