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Stolen cash - only $ 200 Recoverable - Florida Insurance Tips

There is a section in your homeowners' policy (including Citizens HO-3), that very few people are aware. It is called "Special Limits of Liability under Coverage C-Personal Property Coverage. There are eleven items in this Part of your policy. You should know, insurance companies limit the losses of these items as mentioned below.

1. There is a $ 200 limit on money, bank notes, Gold bars, gold, silver, platinum ¬ num, coins and medals. This does not apply to plated flatware.
2. There is a $ 1,000 limit on securities Accounts, certificates, certificates of debt, letters of credit, notes other than bank notes, manuscripts, personal records, passports, tickets and stamps. This Dollar limit for these categories, regardless of the medium (eg paper or computer software) that exist on which the ma ¬ material. These limits include the cost of Research, replace or restore the information from the lost or damaged material. A fireproof safe would be a good investment for you if this Elements themselves. A bank safe deposit box is even better.
3. There is a $ 1,000 limit for boats, including trailers, fur ¬ furniture, Equipment and outboard engines or motors.
4. It is not a $ 1,000 limit on trailers used with watercraft. Most of the craft and related Devices have a much grater value and should be insured by a separate boat insurance policy.
5. There is a $ 1,000 limit for loss by theft of jewelry, watches, Furs, precious and semiprecious stones.
6. There is a $ 2,000 limit for loss by theft of firearms.
7. $ 2,500 for loss caused by Theft of silverware, silver plated ware, gold ware, gold and pewter hardware. This includes flatware, hollowware, tea sets, trays and trophies, or even silver, gold or tin. Please Note in 5, 6 and 7, the word theft. The limits apply only to the loss through theft. If there is another kind of loss, like a fire, the elements within the framework of the larger personal property boundary are considered.
8. There is a $ 2,500 limit on the property on the "change residence premises" at any time or in used in any manner for any "business" have purpose. Remember, this is a homeowners policy. Business property should under a separate Policy are covered.
9. There is a $ 250 limit on the property from the "residence premises" at any time or in any Way for "business" is used. However, this limit shall not apply to a loss of adaptability in electronic devices as special limits described 10 and 11.
10. There is a $ 1000 for the loss of electronic devices, while in a car or other motorized vehicle when the article Battery or electricity operated home while maintaining its ability to be operated by other energy sources. Electronic equipment:
    • Accessories or antennas, or
    • Tapes, wires, records, CDs or other media for use with all electronic devices.
11. There is a $ 1,000 limit for the loss of electronic equipment which, although not in a car or other motorized vehicle, if the article is operated by battery or electricity Home while maintaining its ability to be operated by other energy sources.
    • Away from the "residence premises", and
    • If at any time or in any manner for all "business" is used.

    Electronic equipment:

    • Equipment and antennas, or
    • Tapes, wires, records, CDs or other media for use with any electronic device.

    The important point is that this Article shall apply to business travelers and that is why it is limited to $ 1,000. They should be covered by a commercial policy.

    Well, because football season is over and you are looking for something to occupy your time searching, try to sit back in your chair with a cool drink and reading Your homeowners policy. Ha! Ha! But the wise thing to do, check and inventory your personal property such as money, weapons, securities, Deeds, jewelry and other items mentioned above in your home. If you have high value in one of these points, you should contact your agent for specific coverage, you will find a Safe and / or maintain a fire-rated safe for your home.

About the Author

Robert “Bob” Fowinkle, CIC, CLU is the president of Moore, Fowinkle, & Schroer Agency in Bradenton.

Call Moore, Fowinkle, & Schroer Agency at 755-2628.

E-mail = popeye10@verizon.net

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