Your home insurance policy pays out a maximum amount, or limit, when it comes to certain property. In case of a loss, your indemnity will never exceed the amount stated under the policy. If you feel that the limits are lower than the value of some of the items you own, talk to your home insurer or broker and ask for a higher coverage for them.
Property for which coverage is limited under most insurance policies, regardless of the type of loss covered
Goods
Limits
Animals
2000$
Boats
2000$
Gold or silver bars, bank notes and cash
200$
Software
2000$
Lawn tractors, equipment trailers
5000$
Securities
2000$
Personal property used for professional activities
2000$
Bicycles (including equipment and accessories)
2000$
Sports and artistic personality cards
2000$
Property for which coverage in case of THEFT is limited under most insurance policies
Goods
Limits
Wine and spirits
5000$
Jewellery
2000$
Furs
2000$
Manuscripts/stamps/coins
2000$
Objects made of silver or gold
5000$
Audio and video media (including CDs and DVDs)
2000$
Works of art
10000$
Collections
2000$
Note: The amounts indicated are for information only. Your insurance contract limitations could include higher amounts of insurance. It is worth checking it out.
Examples of property with limited coverage
$1,000 to $2,000
Software
Jewellery, furs
Audit and video media
Animals
Bicycles
$5,000 to $10,000
Objects made of silver and gold
Works of art
Wine and spirits
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