Does homeowners insurance cover stolen jewerly?

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Asked May 23, 2011

1 Answer


Property contained in a home with homeowners insurance would be covered up to the personal property maximum in the policy. If the jewelry is stolen while traveling or being transported for other reasons, the home insurance policy would not be responsible. Homeowners insurance is meant to provide you with coverage on a specific piece of real estate, including the furniture, appliances and personal effects it contains.

Personal property coverage is typically around $2000, but additional coverage can be purchased as needed. Be sure to include any jewelry you own in your home inventory, including a copy of the receipts if they are available. One of the best types of home inventory is a video recording, where you can go from room to room and list everything in that area. Don't forget your furniture and wardrobe, and include the receipts in the recording. If you have a home safe installed for your jewelry and other valuables, you may be eligible for discounts on your home or personal property insurance policies.

Tools or lawn equipment stored in a garage or shed are also covered by your homeowners insurance. This includes hand tools such as shovels, power tools such as saws or drills, and lawnmowers or other motorized equipment. Keep in mind that unless your policy specifically states that you will receive full replacement value, the depreciated value of the equipment will be paid. As the value decreases over time, it may be more logical to replace the equipment out of pocket rather than to file an insurance claim that may or may not pay anything afterthe deductible is considered.

Answered May 23, 2011 by Anonymous

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