Saturday, 26 December 2015

Will My Jewelry Be Covered By My Calgary Home Insurance Policy?

One of the most common questions related to Calgary home insurance coverage is this one:

Will my jewelry be covered by my home insurance policy?

Let's be honest: Most people (even insured ones) would be unable to answer this question with certainty. This is because most people don't even know what their insurance policy covers and what it doesn't. Surprised? Well if you are, it can only mean one thing -- that it's not too late for you. Too often, people who are not aware of what their policy does not cover find themselves in deep trouble when they realize that a peril that they thought was insured turns out to be... not insured.

Of course, stolen or damaged jewelry is not exactly a tornado... but you get the idea. Now to go back to the original question. Will your jewelry be covered by your home insurance policy in Calgary? Unfortunately, there is no "one-size-fits-all" answer to that question because much like insurance policies vary, so do insurance companies.

Generally speaking though (and notice the "generally speaking" part of this sentence) you can expect your Calgary home insurance policy to cover stolen or damaged jewelry. But here's the thing: Don't expect it to cover everything, and certainly expect that coverage to run out sooner than later.

We we recommend that you do is simple. First make a detailed inventory of the items that you would like to be covered under your home insurance policy (jewelry or not) and then contact your insurance policy to learn whether or not those items are in fact covered under your policy. If they are not, consider purchasing additional coverage to fit your needs.

Good luck!