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
$2,000
Boats
$2,000
Gold or silver bars, bank notes and cash
$200
Software
$2,000
Lawn tractors, equipment trailers
$5,000
Securities
$2,000
Personal property used for professional activities
$2,000
Bicycles (including equipment and accessories)
$2,000
Sports and artistic personality cards
$2,000
Property for which coverage in case of THEFT is limited under most insurance policies
Goods
Limits
Wine and spirits
$5,000
Jewellery
$2,000
Furs
$2,000
Manuscripts/stamps/coins
$2,000
Objects made of silver or gold
$5,000
Audio and video media (including CDs and DVDs)
$2,000
Works of art
$10,000
Collections
$2,000
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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