Saturday, 4 June 2016

Homeowner’s Insurance: Scheduling Items


A Minneapolis teacher was devastated when her brand-new Tiffany engagement ring fell into a lake — until a treasure hunter came to her rescue.

Adam Segar and Sara Stocco got engaged last month. KSTP-TV reports they were out boating on Lake Minnetonka when she took off the $7,000 ring to keep it clean while she applied sunscreen on Segar.
insuraning items on homeowners insurance
Stocco put the ring in her mouth but it fell, hit the floor of the boat and bounced into the water.

Denny Geffre of nearby Long Lake, Minn., says he has been hunting treasures in lakes for 40 years. After hearing of Stocco’s loss, he donned his scuba gear and spent three days searching the lake with a metal detector.

He found the ring buried in three inches of sand and was given a $750 reward for his efforts.

Lucky couple!  If you lost one of your most valuable items, what would you do?

Scheduling Items

If you have a particularly expensive item, you may consider purchasing extra protection just in case.  Under homeowner’s policy, condo’s policy, and renter’s policy, you have the option to add an endorsement that provides special coverage for a particular item.  Jewelery, expensive cameras, furs, and art are commonly scheduled items.

The benefit of scheduling items is that they are protected under an open perils form.  This means that if ANYTHING were to happen to the item, your insurance company would reimburse you.