Standard home insurance is designed to protect your home and belongings. Still, if you own high-value items—like fine jewelry, rare art, designer collections, or high-end electronics—you may need more specialized coverage. While a typical homeowner’s policy includes personal property protection, it often caps payouts for specific luxury or high-ticket items. This means that if something valuable is stolen, damaged, or destroyed, you might not be fully reimbursed.
Home insurance with high-value item coverage ensures your most prized possessions are adequately protected. This may involve scheduling items (also called adding a rider or endorsement) or choosing a high-value homeowner’s policy tailored to those with premium belongings. These policies offer broader protection, including coverage for accidental loss or mysterious disappearance—things not usually covered in basic plans.
What Is High-Value Item Coverage in Home Insurance?
Standard home insurance policies provide general protection for personal property, but they often limit coverage for high-value items like fine jewelry, art, collectibles, rare electronics, or luxury watches.
If you own possessions that are individually worth more than a few thousand dollars, you may need high-value item coverage to ensure they’re fully protected. This usually comes in two forms:
- Scheduled personal property coverage (also known as “itemizing”)
- Valuable items endorsements added to your standard homeowner’s policy
What Items Are Considered High-Value?
High-value items generally include possessions with substantial individual worth and sentimental or market value. Insurers typically classify these as:
- Jewelry (engagement rings, luxury watches)
- Fine Art & Antiques
- Collectibles (stamps, coins, sports memorabilia)
- Designer Fashion (couture, handbags, footwear)
- High-end electronics (professional cameras, audio equipment)
- Rare Books or Manuscripts
- Musical Instruments
- Furs, Firearms, and Precious Metals
Limitations of Standard Home Insurance Policies
Typical homeowners insurance includes Coverage C (Personal Property), which usually limits how much it will pay for specific item categories. Common caps include:
- Jewelry: $1,500 – $2,500
- Firearms: $2,000 – $2,500
- Silverware: $2,500
- Art and Antiques: Limited by policy sub-limits
So, if your $15,000 engagement ring is stolen and your policy limit for jewelry is $1,500, you’ll only receive that amount unless you’ve added specific protection.
How Scheduled Personal Property Coverage Works
To adequately protect your high-value items, most insurers offer scheduled personal property coverage, which:
- Covers individual items at their appraised value
- Removes sub limits found in standard policies
- Expand coverage to include more risks (like accidental loss or mysterious disappearance)
- Usually has no deductible or a separate, lower deductible
To schedule an item, you’ll typically need to:
- Provide a recent appraisal or receipt
- List the item and its value on your policy
- Update valuations over time, especially for assets that appreciate
Best Insurance Providers for High-Value Homes and Items
If you own luxury goods or a high-net-worth home, consider insurers that specialize in high-value policies. These providers offer broader coverage, better service, and higher limits:
Chubb
- Elite protection for high-net-worth individuals
- Automatically includes many valuable items
- Offers risk consultation and home security assessments
PURE Insurance
- Serves high-asset households
- Known for concierge claims service and flexible coverage
- Tailors policies to collections, artwork, and custom homes
AIG Private Client Group
- Designed for luxury properties and valuables
- Offers protection for international collections and worldwide coverage
USAA
- Great for military families with valuable property
- Offers valuable personal property endorsements
Nationwide Private Client
- A strong option for high-value homes and personal assets
- Broad coverage and customization options
Tips for Protecting and Insuring High-Value Items
To ensure your valuable possessions are fully protected, follow these best practices:
- Get Professional Appraisals: Have items appraised every 3–5 years to reflect accurate market value.
- Photograph and Inventory: Keep a detailed inventory (with images and serial numbers) in both digital and physical formats.
- Secure Storage: Use safes, climate-controlled storage, or vaults for specific items like furs, jewelry, or paintings.
- Install Security Systems: Monitored alarms, surveillance cameras, and fire protection can reduce premiums and risk.
- Review Policies Regularly: Update your insurance when acquiring or selling valuable items.
Common Claims and How They’re Handled
Here are examples of real-world scenarios where high-value coverage matters:
- Jewelry stolen while traveling abroad – Standard homeowners may not cover this; a scheduled policy with worldwide protection would.
- Wine collection damaged in power outage – Specialized policies often cover spoilage and temperature-related damage.
- Accidental loss of a diamond ring – Most standard policies exclude unintentional loss, but high-value riders typically cover it.
- Art stolen or damaged during a move – Transit-related risks are often excluded unless you have scheduled or acceptable art-specific coverage.
How to Get Started with High-Value Home Insurance
If you’re looking to secure proper protection for your luxury possessions, here’s how to begin:
- Take Inventory: List all high-value items and gather appraisals or receipts.
- Evaluate Existing Coverage: Review your current policy to identify gaps or limits.
- Request Quotes: Get quotes from both traditional insurers and high-net-worth specialists.
- Ask the Right Questions: Does this cover mysterious disappearance?
- Are there item-specific sublimits?
- What is the claims process like?
- Work With a Broker: Insurance brokers who specialize in high-value policies can find customized solutions.
- Schedule Items: Add endorsements for specific valuables.
- Reassess Annually: Update coverage as your collection or item values change.
Frequently Asked Questions
What are high-value items in home insurance?
These include jewelry, art, collectibles, antiques, designer fashion, and rare or expensive electronics.
Does standard home insurance cover high-value items?
Yes, but usually with low sub-limits (e.g., $1,500 for jewelry), which may not fully cover high-value items.
What is scheduled personal property coverage?
It’s an add-on that lists specific high-value items separately for full replacement coverage.
Do I need appraisals for high-value coverage?
Yes. Insurers typically require a recent appraisal or receipt to determine the item’s insurable value.
What does scheduled coverage protect against?
Theft, fire, accidental loss, and sometimes mysterious disappearance, depending on the policy.
Are collectibles and artwork covered?
Yes, but they may need their riders or specialized OK art insurance.
What if the value of my items increases over time?
Regularly update appraisals and inform your insurer to adjust coverage accordingly.
Does high-value item insurance cover items outside the home?
Yes, many policies offer worldwide coverage for scheduled items.
How do I file a claim for a high-value item?
Provide documentation such as appraisals, photos, and proof of loss, and then work with your insurer to process the claim.
Is high-value item insurance expensive?
It depends on the item’s value, location, and risk, but it’s usually affordable relative to the protection it provides.
Conclusion
If you own high-value items, having the right home insurance coverage is essential. Standard policies may not fully protect luxury or rare belongings, leaving you vulnerable in case of loss or damage. Adding scheduled personal property coverage or upgrading to a high-value homeowner’s policy ensures your most cherished items are adequately insured at their actual value. With the proper documentation, routine appraisals, and tailored protection, you can rest easy knowing your valuables are covered—whether they’re in your home or with you while traveling. Don’t wait until something happens to discover a coverage gap. Talk to your insurer and safeguard what matters most.
