Homeowners in Colorado are not mandated to carry insurance on their homes, however, many lenders will require them to do so. It’s also not uncommon for people without mortgages to purchase a policy to protect against unforeseen disasters.
If You Have Antiques
Vintage items can come in many different categories. For example, you could have a collection of stamps, a wine cellar, baseball cards, fine jewelry or dishes. When you purchase a policy, you cannot assume that these things will be automatically incorporated. Instead, you will need to make your agent aware of your items, asking about them individually.
The reason for this is that your valuables may exceed the limits of your indemnification, although your plan may include some provision for these heirlooms. You will likely need to work with your broker to develop either a floater or an endorsement.
A floater is simply a separate policy for your antiques, while an endorsement, sometimes called a rider, is like an addendum added onto your policy. You’ll first need to take inventory of anything you have that needs to be protected, and you will then need to have them appraised. This will provide a written record for you if you should ever need to make a claim. You will want to have these items insured for their current value, and this can change as time goes on. You may need to obtain a new appraisal every now, and always be sure to present these documents to your insurance company.
Contact Alliance General Insurance Agency of Denver, CO
At Alliance General Insurance Agency, we serve the residents of Denver, CO, providing them with insurance packages to best suit their needs. Reach out with any questions you may have, and we look forward to working with you!