For the wealthy homeowner, with many valuable personal property items in the home, personal property insurance is an economically sound way of protecting investments in these valuable pieces of property.
A home may be filled with valuable pieces of artwork, expensive furniture, plush accessories, valuable collections, jewelry, family memorabilia and a host of other valuable items, including stock and bond certificates, computers with valuable personal reecords and data that may be destroyed by fire, storms or taken by outright theft.
A prudent owner and a wise investor, especially a high net worth individual with personal property and irreplaceable personal property worth $250,000 or more will surely want to consider personal property insurance.
Usually offered by many insurance companies for penny-on-the-dollar insurance coverage, these policies will replace, usually at full value, items destroyed by fire, storms, or theft.
Some valuable items, such as expensive jewelry and painting may have to be appraised before an insurance policy is underwritten but, no appraisal is necessary for clothing, electronics, furniture and everyday items. Under some homeowner’s insurance policies destroyed or stolen property may not be covered to thier maximum replacment price. That is why, high net worth home insurance is necessary and very prudent.
Tue, Aug 9, 2011
Finance