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Little-Known Insurance Coverages

Last week, Tom & Matt discussed some “little-known” insurance coverage options that may be available on your homeowners insurance policy. These coverages, although for the most part inexpensive, can mean BIG coverage when it comes to a loss!

Personal Computer Blanket – Offers from $2500 to $20000 in computer equipment replacement with no deductible & “open perils” coverage (whatever isn’t excluded is covered). A great buy for that technophile that gets new computers & related equipment every couple of years.

Collectible Personal Property Coverage – offers coverage for collections from memorabilia to figurines. There are 2 optional limits, $25000 for unscheduled items or $100000 for scheduled items. This is perfect for someone with an unusual collection that may not fit one of the Scheduled Personal Property categories. There is a $250 per claim and includes the peril of “breakage” on on scheduled items.

Jewelry Blanket Coverage – The cost is a little more than the Unscheduled Jewelry endorsement, but is less than scheduling individual pieces of jewelry. Coverage amounts start at $2500 and can increase up to $25000, with a maximum of $5000 for any one piece. We recommend that those who have pieces of jewelry to please schedule them on their homeowners.

Recreational Sports Equipment Coverage – Covers up to $2500 in recreational sports equipment, accessories, & related clothing (think hunting equipment, golf equipment, tennis,etc.). There is a $50 deductible BUT is on an “open peril” basis as far as coverage.

Equipment Breakdown – A lot like Boiler & Machinery Coverage on a commercial policy, it offers coverage for “sudden & accidental” breakdown of household equipment. It does not cover wear & tear, neglect, or inherent defect and there is a $500 deductible that supercedes the policy deductible.

Earthquake Coverage – With this coverage you must choose a limit for each of the following – Dwelling, Other Structures, & Personal Property. Each have a separate “percentage” deductible (meaning you would owe 2/5/10% of the total damage claimed instead of a dollar deductible).

Residential Glass Deductible Waiver – Does what it says, waives the policy deductible for damaged glass on a home.

Theft of Building Materials Coverage – covers building materials used in the course of remodeling/renovation/reconstruction of an existing home. Comes in handy for those that are upgrading or re-doing their homes.

Listen to the podcast HERE

Until next time,

Marsilje Insurance Agency


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