All too often, people do not give much consideration to gifts such as Valentine’s Day jewelry in respect to their homeowner’s insurance policies. That’s because most people assume those gifts are automatically covered under their current policy. Unfortunately, that is not the case. When someone initially begins a homeowner’s insurance policy, an itemized schedule is compiled which lists the items the homeowner’s policy will compensate the policy holder for if said items are stolen or destroyed. Anything acquired after the initial policy is created is not automatically covered.
This includes not only jewelry, fine art, collectibles and other valuables a person may accumulate after the policy is written, but it also includes modifications to the home (such as swimming pools, trampolines, and remodeling). Unless an update is made to the homeowner’s policy to reflect these acquisitions and changes, the necessary financial protection needed if a break-in or fire occurs, may not be there.
However, for those in the DFW area, working with a great insurance company like Legacy Insurance Partners can give you the assurance that you will be fiscally compensated if something does happen. Contact them today and make sure your homeowner’s insurance policy is up to date.