When you live in a condo in Las Vegas, NV, your condo insurance policy will provide some protection for the jewelry you keep in your unit. However, for many people, this coverage is not enough if a piece is stolen or lost. Leo Insurance Group can help you assess the value of your jewelry to determine the level of protection you need.

Allowances Under a HO-6 Policy

A standard condo homeowners policy covers your personal belongings, such as furniture, electronics, and clothes, from perils like fire, lightning, theft, and more. However, standard policies limit the payout for jewelry theft, typically capped at $1,500 per incident, not per item. If you have a few pieces of jewelry with a total worth of less than $1,500, your policy may suffice.. Anyone who has jewelry with a greater value will need to upgrade their coverage.

Options for Sufficient Coverage

You have two options to fully cover expensive pieces of jewelry. The first is adding a schedule of personal property that includes jewelry and other valuable items to your HO-6 policy. This option covers each option up to its specific, appraised value. Most riders have a $0 deductible, so you get the full value of a lost or stolen piece. Filing a claim for your jewelry can affect the total cost of your condo insurance.

The second option is a standalone jewelry policy, usually from a specialty insurer. These policies offer the broadest protection from loss, damage or theft anywhere in the world and cover each item up to its appraised value. You may also have multiple deductible options to lower premiums.

Learn how you can fully protect your jewelry when buying a condo insurance policy. Contact the experts at Leo Insurance Group, serving Las Vegas, NV, to get started on full coverage fo your valuables.