Do you know that most property insurance policies have "special limits"?

It's not commonly known, but many property insurance policies (held by homeowners, condominium owners and rental property tenants) have "special limits" on the amount that they will pay out for loss or damage of certain items such as jewelry, furs, boats, coin and stamp collections, and business property.

Read your policy wording carefully and if you feel that you do not have enough coverage under the limits set out in it, know that you may be able to purchase special riders (increased coverage) for such items for an additional premium. Most of the time, when you purchase this additional coverage, you may not be required to pay the policy deductible in the event of a claim. An up-to-date appraisal is often required for jewelry or other items. Every company has different limits, so make sure that you always read your policy wording carefully and, when in doubt, check with your licensed insurance professional.