Should you get personal insurance?

Written By: Cindy Rodgers - State Farm | Issue: 2016/07 - July

Should you get personal insurance?

Homeowner’s insurance is one of the best ways to protect your possessions.  However, you may own some high-value items that it alone doesn’t cover.  Consider the following to determine if personal insurance may be right for you.

Personal Article Insurance

Personal article insurance covers valuable items that your homeowner’s insurance may not protect, such as:

• Furs

• Jewelry, such as engagement or wedding rings

• Electronics, such as digital cameras

• Silver or other precious metals

• Fine art

• Sports and golf equipment

• Other items with high financial value (typically worth $1,000 or more)

As you’re reviewing your possessions, consider making a home inventory.  The list will be helpful in the event of theft or large-scale damage in your home.  Include details of high-value items, such as make, model, value, and purchase date.  You may also want to take photos of each item and store your home inventory digitally.

Personal Liability Insurance

If an accident happens on your property and it’s your fault, you could face a lawsuit or damages.  While your existing policies may provide substantial insurance liability limits, a personal liability umbrella policy could provide additional liability coverage beyond that provided by your auto, homeowners, and other personal liability policies.

Personal Insurance Options

Personal insurance policies may be a good fit for those who have high-value possessions or those who don’t want to risk potentially expensive personal liability.

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