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Will homeowners insurance cover a lost wedding ring at the lake-I have a jewelry floater and have Farmers insurance?
Wiki User
∙ 13y ago
Contact your Agent and he or she can advise you.
Wiki User
∙ 13y ago
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Will homeowners insurance cover a lost wedding ring at the lake you have a jewelry floater and have Farmers insurance?
If the ring is a scheduled item on your jewelry floater it would be covered subject to applicable limits and deductibles.
How do multiple loss claims on a personal articles policy for jewelry affect this policy and your Auto and homeowners?
Multiple losses on any policy will guarantee a cancellation. A cancellation on a home insurance policy will pretty much guarantee that you will not get another homeowners policy at anything close to a reasonable rate. Also, you can be assured that no company will allow you to purchase jewelry floater policy either. I hope your state has an insurance pool for those who can't buy insurance in the private sector.
Can jewelry be covered under regular homeowners insurance policies?
nope
What is floater policy in insurance?
The term, "floater" generally refers to a policy that is issued to cover specific, high value items. Ordinarily, a homeowners policy, for example, provides only a fixed and limited amount of coverage for all jewelry, and a lower amount for any particular item of jewelry. If you have an item that is worth more than the item limit of the policy, you can insure it for its full value by insuring it on a floater. You will pay a separate premium for that policy, and it may be issued by a different insurer.
You made a claim on insurance for a lost ring and later found it?
You would need to inform the insurance company and reimburse them for the amount paid or give them the ring, your choice. If you don't inform them you are guilty of insurance fraud. This claim would have to be for a scheduled jewelry floater or payment would not have been made. The floater is the only policy that will pay for mysterious disappearance. A normal Homeowners policy without the floater would require proof of break-in to be theft. The floater also has no deductible usually. It does require appraisals of the items covered.
Is your lost ring covered by your insurance?
It depends somewhat on your insurance policy. Generally if you had the ring listed on a jewelry floater attached to your homeowners policy then it would be covered without a deductible. To do this you would have had to supply the company with an appraisal with a full description of the item and a dollar amount that it is valued at. You also would pay a small additional premium. This type of floater add coverage for "mysterious disappearance" which means it's covered if you just loose it say in a bathroom when you take it off to wash your hands and its gone. This would not be covered on a normal homeowners policy unless there was evidence of break-in and theft. This is advised for large value pieces of jewelry, art, coin collections, guns, and other high value items that have a limit on your regular policy.
Should I get jewelry insurance for my wife?
When you purchase expensive pieces of jewelry you can purchase riders for existing homeowners insurance policies. A rider will cover items on a piece by piece basis for a specified value. Check with your insurance company to see if this will meet your needs.
What is the best way to insure jewelry?
My recommendation for insuring Jewelry is to schedule each item specifically on a Homeowners or Renters insurance policy.Homeowners and Renters insurance policies do provide a limited amount of coverage automatically in most states, but the coverage is very limited, often not more than $5,000 total loss with a per item limit of $1,000.By scheduling a piece of jewelry you are ensuring coverage on a All Risk basis.The first step is to get an appraisal from a Jeweler than give that appraisal to your insurance professional who will add the piece of jewelry to your homeowners or renters insurance policy.There are other ways and others policies but this is my recommendation
Where might a person find information regarding engagement ring insurance?
An engagement ring insurance may be covered by a homeowners' policy. However, this depends on the value of the ring. If the homeowners' policy does not cover the engagement ring, a policy extension for personal property coverage is needed. Alternatively, there are insurance companies which specialize in insuring jewelry.
Does homeowners insurance cover money stolen from your car?
Homeowners Insurance policies typically have language that excludes coverage for cash, bullion, fine jewelry, furs and other luxury items that are not specifically scheduled for coverage. If you want it covered you have to schedule it and pay the additional premium for scheduled property.
Does homeowners insurance cover collectibles?
If you have scheduled the collectible items with your insurance company on your policy and paid the required additional premium then they are covered, otherwise they are not covered. Other items that are not covered under a homeowners insurance policy unless scheduled are; fine jewelry, antiques, furs, artwork, stocks, bonds, cash and other negotiable paper.
Does homeowners insurance cover a lost digital camera?
Lost, No. Loosing an item is not a covered cause. There is a way of covering expensive item on a homeowners policy. This is by listing them on an Inland Marine Floater. There are all kinds of items you can list on these floaters: Jewelry, Furs, Art, Guns, Camera Equipment, Computer Equipment, Coin Collections, etc. The benefit of listing items like this is that they are at an agreed upon value, there is no deductible, and they are covered for "mysterious disappearance", meaning lost, stolen but no evidence of break in, etc.
