Do you own an engagement ring, a luxury watch, a wine collection, or high-end electronic equipment? You may be wondering if your home insurance really protects them in the event of theft, fire, or disaster. The answer is yes… but not always entirely.

Often overlooked limitations

Most home insurance policies cover your personal property. However, for certain items considered “valuable,” compensation is often capped. For example, an insurer may limit reimbursement for jewelry to $2,000 or $3,000, regardless of the actual value of your collection. The same logic applies to works of art, musical instruments, and cash.

Why these limits?

Insurers set maximums to reduce the risks associated with property that is easily transportable, stolen, or difficult to value. These limits vary from one insurer to another, which is why it’s important to read the fine print… or ask your broker!

How to properly protect your valuables

• Make an inventory: photos, receipts, appraisal certificates.

• Tell your broker what you own: they can recommend a specific rider or policy for valuable items.

• Reassess regularly: a work of art or piece of jewelry may increase in value over time.

The role of the broker

An insurance broker does more than just compare prices. They take the time to understand your situation and ensure that your property—including your most valuable items—is well protected.

Finally, it’s a good idea to assume that not everything is covered without limits. Check your coverage and ask your broker for advice. This is the best way to avoid unpleasant surprises when you need to use your insurance.