5 Household Items You Should Insure

AAA

Household Items You Need To Insure

You probably don't think about it until happens. How many assets do you own that are high-value items either in terms of monetary or sentimental value? Your homeowner's insurance doesn't cover everything you own and the items it does cover are only partially insured if they're high-priced items. Here are a few items you should consider insuring beyond your normal policy.

Jewelry

Your homeowner's or renter's insurance policy may already cover your jewelry, but most policies have a limit well below the value of more expensive pieces. First, have the jewelry appraised and then add it to your policy or purchase a separate policy or rider.

Computer Equipment

What is the purpose of your computer equipment? If it's for personal use, it will already be covered much like your jewelry. If it's for business use, your employer likely has a policy covering the equipment. If you're self-employed, you need a policy that covers your business assets.

Artwork

If the artwork stays on your wall, insure it with a supplemental policy if your homeowner's or renter's insurance doesn't cover it completely. If the art is ever on public display, purchase a public liability policy to protect the piece from damage.

Specialty Tools

If you're a mechanic or work in a trade that requires specialty tools, look to your homeowner's or renter's policy for guidance or include the tools in your business insurance coverage if they're stored at your home but primarily used for your business.

Pets

No animal lover wants to treat his or her beloved friend as property, but most laws see animals as something you own. Insurances related to pets include health and liability insurance. Did you know that, depending on the breed, your pet may be excluded from your homeowner's policy?
  1. No results found.
Related Articles
  1. Insurance

    What Is and Isn't Covered by Homeowners Insurance

    Understanding what your insurance covers can be confusing. Learn what almost all insurance policies have in common so you're prepared if disaster strikes.
  2. Managing Wealth

    The Best Way to Insure Your Jewelry

    What you need to know to keep those baubles, bangles and beads safe.
  3. Insurance

    Homeowner's Insurance Guide: A Beginner's Overview

    Everything new homeowners need to know about insurance to protect their residence.
  4. Insurance

    6 Types Of Insurance Coverage You Didn't Think You Needed

    These different types of insurance coverage can be beneficial, but they're often overlooked and misunderstood.
  5. Insurance

    What Happens If Your Insurance Company Goes Bankrupt?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.
  6. Insurance

    Insurance 101 For Renters

    If it's time for you to leave the nest, find out how to protect your new home from disaster.
  7. Insurance

    How Much Life Insurance Should You Carry?

    Learn how much - if any - insurance you really need.
  8. Insurance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
Hot Definitions
  1. Book Value

    1. The value at which an asset is carried on a balance sheet. To calculate, take the cost of an asset minus the accumulated ...
  2. Dividend Yield

    A financial ratio that shows how much a company pays out in dividends each year relative to its share price.
  3. Fixed-Income Security

    An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. ...
  4. Free Cash Flow - FCF

    A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents ...
  5. Leverage Ratio

    Any ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to ...
  6. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
Trading Center