You know that every customer who walks into your office is unique with different insurance needs. Safeco Insurance offers flexible options to help you build a customized insurance bundle for your individual customers, including a range of optional home insurance coverages.
For customers who want the best protection for their valuable items and personal property, consider the coverages below:
Valuable articles coverage
We recommend this coverage for customers who own valuable items such as their grandmother’s silver, jewelry passed from generation to generation, art or other valuable belongings. In the event of a theft or accidental loss, typical homeowners policies don’t cover these precious items.
You can either schedule (itemize) coverage on each item, or group it for one blanket coverage.
What you need to know about scheduled coverage
- It allows for additional categories of personal property coverage. These categories include jewelry, silverware, stamp and coin collections, musical instruments and electronic equipment, just to name a few.
- It is based on an agreed-upon value for each item and there is no deductible, making the claims experience straightforward and simple.
What you need to know about grouped/unscheduled coverage
- Customers can easily change the blanket coverage limit as the amount of total property changes.
- There is a maximum per item limit of $5,000 and a $500 deductible applies per loss.
Personal property replacement coverage
The standard homeowners policy does cover most personal property, but it takes depreciation into account and covers items at actual cash value. For computers and televisions, that means your customer may need to pay partially out of pocket for a suitable replacement.
With personal property replacement coverage, covered losses are settled for either the cost of an identical item, or a comparable item if the lost item is no longer manufactured. There is no deduction for depreciation. This coverage is an easy and important upgrade to a standard homeowners policy and will help your customers recover from a loss more quickly.
Also consider special personal property coverage which covers all personal property losses unless specifically excluded.
GiveTCU Insurance Agency a call at 800-772-8043 to learn more about personal and special personal property replacement coverage.