Home Insurance Policy Limits

People who have recently received a homeowner’s insurance settlement often ask why the amount was lower than they expected. What most don’t realize is that their policy had coverage limits for some of the items lost.

For example, a $1000 limit for combined losses of jewelry, furs or related items is not uncommon. Cash, securities, boats, trailers, silverware and firearms may also subject to policy coverage limits. Antiques, artwork and collectibles not only have coverage limits but in most cases a policy will only pay for the value of a similar item, not for their collectible value.

In other words, an antique table worth thousands of dollars may be replaced with a new table of similar design that only costs a few hundred. So look closely at the coverage limits in your policy and talk to your insurance agent about any extra coverage you may need to adequately cover your home.


  1. This home inventory info was very timely. I have been pondering how to go about it and your info is valuable. I live in your area (Fairhope) and am wondering if you have a reliable specialist you have used, know of or can recommend.
    I remember some years ago “Uncle Henry” 710 radio, had a local on but it was a long time ago. Do insurance companies have spread sheets or recommendations? It seems a daunting but necessary task. As I am up in age, I am working on decluttering so my children aren’t left with that awful task when we pass.


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