See, all homeowners policies include limitations on certain types of frequently stolen items. For example, it is not uncommon for policies to limit theft of jewelry at $1,500. While that is fine for many pieces of common jewelry, it’s not nearly enough for your average wedding ring.
How can you make sure you have the coverage you need for those items? First of all, call your agent who should be able to tell you what limitations your policy has. Then, work with your agent to explore the different options to close that gap.
Most companies will offer you the opportunity to purchase higher limits on such items. Better yet, for items you wear or use regularly, discuss adding that item to a “personal articles schedule” which not only lets you insure it for the proper value but adds additional ‘perils’ that are not covered on most homeowners policies. Back to the example of jewelry, if you have a ring with a valuable stone (like a diamond), homeowners policies may cover it for theft, fire, etc. but not for mysterious disappearance. So if you lose the stone while you are out running errands, you’re out of luck unless you have scheduled it on an all-risk personal articles policy or endorsement.
So as is often the case, the best thing you can do is consult with an experienced agent to make sure your belongings are properly covered.
Now, if you got a fruitcake for Christmas, you needn’t worry about insuring it. Chances are, it’s indestructible.