What type of insurance can I purchase for jewelry and art? Would there be coverage for these items under a homeowners policy?

Your homeowners insurance policy does provide coverage for personal property; however, keep in mind that this coverage is limited. Under a homeowners policy, coverage for all your personal property is limited to 50 percent of the coverage amount on your home. Specific dollar limits for particular categories of personal property are set by homeowners policies.

The policy specified a coverage limit for theft for some categories (such as furs, firearms, jewelry). Standard coverage limits for particular categories of personal property are as follows:

• $250 for property used away from the residence for business purposes
• $1,000 for the theft of jewelry, watches, furs, and precious and semi-precious stones
• $200 for bank notes, silver, gold, metals, coins, money
• $1,000 for letters of credit, tickets, personal records, manuscripts, accounts, passports, deeds, notes other than bank notes, and other related items
• $2,500 for theft of silver-plated ware, gold-plated ware, pewterware, goldware, silverware
• $2,000 for theft of firearms
• $2,500 for theft of residence used for business purposes

If you think that this coverage does not provide enough protection, you do have the option of purchasing additional personal property coverage by buying either a floater or an endorsement. In order to purchase additional personal property coverage, you must be able to identify the cost and condition of the item.