Q: What do I do if my current insurance policy isn’t enough to cover my high-value items?

A: You may own some high-value items that your homeowners or renters insurance policy limits may not adequately cover. Plus, your policy’s liability limits may not be enough to cover the potential exposures you may face. In this case, you may want to consider a personal article insurance policy and a personal liability umbrella policy.

What is a personal article insurance policy?

Personal article insurance, or a personal article floater, covers valuable items that your homeowners or renters insurance may not cover because they exceed the coverage amount on your policy.

Items that might need a personal article policy include:

• Furs
• Jewelry
• Electronics
• Silver 
• Fine art
• Sports equipment
• Other items with high financial value (typically worth $1,000 or more).

If you are legally liable for an accident, you could face a lawsuit and be held accountable for damages. A personal liability umbrella policy could provide additional liability coverage beyond that provided by your auto, homeowners and other personal liability policies.

Personal article insurance or personal liability umbrella policy may be a good fit for those who have high-value possessions or those who don’t want to risk damages exceeding their current liability coverage. 

Have further questions? I’d love to answer them! Feel free to call or text my office at (704) 526-0887 or visit us in person at 9539 Idlewild Road or online at MyMintHillAgent.com.