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Are your trophies included? | Legal insurance blog for property insurance

I thought of Tom Brady and wondered if he would add another trophy to his collection today. While the Super Bowl trophy will not be his, I thought of the trophies we collect, keep, and receive throughout our lives. If you're like me, there are many in a drawer somewhere and usually in the attic or back corner of a closet.

The typical homeowner form says:

C. Coverage C – Personal Property

1. Covered Property

We cover personal property owned or used by an "insured" while it is located anywhere in the world. After a loss and at your request we will cover personal property owned by:

a. Others while the property belongs to the part of the "residential area" that is occupied by an "insured"; or

b. A guest or a "housing employee", while the property is in any home that is occupied by an "insured".

The typical property not covered is usually listed as:

4. Property not covered

We do not cover:

a. Articles described separately and specially insured, regardless of the limit for which they are insured, in this or other insurances;

b. Animals, birds or fish

c. "Motor vehicle".
This includes equipment and parts of a "motor vehicle". This section 4.c. does not apply to:


) Portable electronic equipment such as:

(a) Reproduces, receives or transmits audio, visual or data signals; and
(b) is designed to be operated from a power source other than the "motor vehicle" electrical system.

(2) "Motor vehicle" need not be registered for use on public roads or property which is:

(a) used solely to service a dwelling; or
(b) Designed to assist the disabled;

d. Aircraft, ie all shapes used or designed for flight, including parts, whether or not attached to the aircraft. Hovercraft and parts. Hovercraft means a self-propelled motor vehicle with ground power and includes, but is not limited to, flarecraft and airbag vehicles;

f. The property of roomers, pensioners and other tenants, other than the property of roomers and pensioners relating to an "insured person";

g. Properties in an apartment that are regularly rented or held for rent to others by an “insured”, except as provided in E.10.Landlord & # 39 ;s Furnishings under Section I – Property Coverage;

h. Properties that are rented or held for rent to others outside the "residential area";

i. "Business data", including such information stored in:

(1) Account books, drawings or other paper registers; or
(2) Computers and related equipment.
We cover the cost of blank recording or storage media and pre-recorded computer programs available at retail;

j. Credit cards, electronic debit cards or access devices used only for the deposit, withdrawal or transfer of funds other than those specified in E.6. Credit cards, electronic transfer cards or access devices, counterfeiting and counterfeit money according to Section I – coverage of property; or

k. Water or steam.

I see nothing about trophies not being covered. But we are not done. Does the policy limit the value? Unfortunately, we find a typical limitation of coverage if the loss is due to theft:

g. $ 2,500 for loss by theft of silver, silver plated, gold goods, gold plated ware, platinum goods, platinum ware and pewter items. This includes cutlery, hollowware, tea set, trays and trophies made of or including silver, gold or pewter.

One last warning – not all police officers read the same. In this time and age, where insurance companies add small words that significantly change coverage and unfairly calculate in this way, you need to read the entire policy. Many insurance companies sell cheap insurance and can limit your trophies to smaller sums, set limits for all types of losses or exclude trophies or increase the number of excluded items.

I bet most of Tom Brady's trophies are worth more. over $ 2,500. When you have significant valuables or collections, it is important to notify your insurance agent and purchase additional coverage for these items.

Thought for the Day
—Go Tampa Bay Buccaneers!

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