This article will give you a improved understanding of how to protect your valuables if they're not insured in your homeowners insurance policy.

Ask agents how to better protect your valuables. Most homeowner policy insurance coverage amounts are fixed for certain valuables such as jewelry, coins, stamps, furs and collectibles. If you have high-value items in your house, you need a well-thought-out risk management plan.

Special policies, or "floaters," are available to insure valuable items at an agreed-upon dollar amount as scheduled on the insurance policy. If you prefer, insurance company's may be willing to protect your valuable items on a blanket basis at an agreed-upon value per type. For instance, if you have a lot of jewelry, you may agree on $100,000 as the coverage amount.

If you have fine china or antiques, check to see if insurance coverage includes accidental breaking. Such breaking wouldn't be included under most homeowners insurance policies.

Floaters usually lack deductibles, so coverage starts with the first dollar of loss. Additionally, these floater policies are commonly written on an "all-risk" basis. This means that losses are insured for all hazards, unless a hazard is specifically left out.

Another good feature of floaters is "mysterious disappearance" coverage. Although several policies, especially inland marine policies, exclude mysterious disappearances of valuables, floaters often insure them. (Mysterious disappearance, as you might guess, involves a loss where the cause is unknown.)

Your approach to risk management is a key component in the formula of insuring your valuables. Many insurance companies will take into account your willingness to decrease the risk of loss when pricing your insurance coverage. For instance, if you hang a Renoir painting in your lounge, and you set up an alarm system to protect it, you could get a discount for being proactive.

Some insurers will even help ease your risk management plan by aiding you in the inventory process. They may also help organize third-party appraisals, a crucial component of the risk-management and insurance process.

All too often, people underestimate their own property, consequently getting too little insurance coverage. A certified appraiser can help you assess the value of your property and supply necessary documentation of its value in case of a loss.

Follow these guidelines to ensure you have enough coverage:

• Take inventory of your valuables, including jewelry, art, and other valuables, like an autographed baseball.
• Get an appraisal of the more important items. Be prepared to go to a specialist to find out the value of special items. You wouldn't go to the same appraiser for the autographed baseball as you would for your jewelry.
• Speak to your insurance agent about floaters that may be available, talk over coverage and determine limits. Compare the coverage to your basic homeowners policy in order to fully assess the value of the extra coverage.
• Learn what extra services your insurance company offers. If they're able to aid you in the conservation and preservation of your valuable belongings, and if they bundle these services together in a cost-efficient way, it may become a 'no lose' situation for both you and them. You'll get excellent benefits and service; they'll gain a loyal and prudent customer who may be with them for many years to come.