How do i insure household items like jewelry, phones, laptops, etc?
If you have standard homeowners or renters insurance, it will cover household items. If you have something that is over the limits (your declarations page will show the limits), you have to pay extra for a “schedule” of items – unless you have more than $5,000 of jewelry or computer equipment, it may not pay to have the additional policy – for jewelry, you need to pay to have an appraisal before you can cover it – if you have a combination of furs, jewels and other “luxury” items, you can usually get a rider that covers those in bulk up to a certain amount. A $5,000 diamond ring may cost you $125 a year in insurance, so know that it’s not cheap.
