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Hello, David Galarza here! Today we’re just giving you a quick tip on homeowner’s insurance. A friend of mine was away on vacation and they were having a grand old time. When they returned home, they found that their door was left open and when they appeared inside, it looks like they had some jewelry and some firearms stolen from their home along with electronics and other personal property that they had in the home. Luckily no pets were harmed. Everything was safe and for my friend, they were happy that they had homeowner’s insurance.

Now when they put in the claim, they let the claims representative now what was taken, they had an itemized list of everything that was in the house that was stolen amongst that was an engagement ring that was valued at about $28,000. On the other end, there was also a gun that was valued at about $4,000 when making the claim, they came to find out that the jewelry was in fact not covered. A lot of individuals think that jewelry is covered in a homeowner’s insurance along with firearms, and it is, but only to a certain dollar amount. We’re talking anywhere between 15 and $5,000 depending on the insurance carrier.

That’s why it’s always important to have endorsements in your policy that will schedule individual jewelry that is over the amount of the policies, a maximum pay out on jewelry, and then there’s a separate payoff on firearms. Just keep in mind, ladies and gentlemen, there’s a lot that’s homeowner’s insurance does not cover the general. The general coverages on the homeowners is if the damage is caused by wind, hailed theft, a mischief fire, trees are falling on your home, things of that nature. Thank you very much. I hope this was insightful to you guys and I’ll see you again next time.