When the news broke about Travis Kelce proposing to Taylor Swift, I couldn’t help but think: I really hope he insured that ring properly.
Most people assume their homeowners insurance automatically covers all their personal belongings at full value. Unfortunately, that’s not always the case. Tucked inside every policy are special limits of liability, which cap coverage for certain types of items—often well below their actual value.
Here’s a breakdown of some of the most common ones you’ll find in a standard homeowners (HO-3) policy:
Jewelry, Watches, and Furs
- Typical Limit: $1,500 for theft
- The Catch: Fire or other covered losses may pay more, but theft is capped.
- Solution: Schedule high-value jewelry with an endorsement or a separate jewelry policy.
Firearms
- Typical Limit: $2,500 total for theft
- The Catch: Coverage applies to all firearms combined, not per item.
- Solution: Consider scheduling valuable collections separately.
Silverware, Goldware, and Pewterware
- Typical Limit: $2,500 for theft
- The Catch: Family heirlooms often exceed this cap.
- Solution: Document and schedule if necessary.
Money & Coins
- Typical Limit: $200 total
- The Catch: Cash in a desk drawer, coin collections, or rare currency aren’t fully protected.
- Solution: Keep minimal cash at home; insure collections separately.
Business Property
- Typical Limit: $2,500 at home, $500 away from home
- The Catch: With so many people working remotely, this is often overlooked. Laptops, printers, and equipment may not be covered in full.
- Solution: Add a business property endorsement if you work from home.
Trailers, Boats, and Watercraft
- Typical Limit: $1,500 for trailers, $1,500 for watercraft (including motors)
- The Catch: Recreational gear can get expensive quickly.
- Solution: Look into separate policies for boats or trailers.
Why This Matters
If Travis Kelce and Taylor Swift’s multi-million-dollar engagement ring isn’t fully covered under a homeowners policy, what about your grandmother’s diamond earrings, your hunting collection, or even the laptop you use to run your business from home?
The truth is, most families in Greece, NY have more valuable items than their policy limits will cover. The good news? That’s what endorsements and scheduled property coverage are for.
Next Steps
- Review your policy. Check the fine print for special limits of liability.
- Make a list. Write down any high-value items you own.
- Talk to us. We’ll walk you through options to make sure your most important belongings are protected the right way.
At VanScoter Insurance, we’re here to make sure your coverage isn’t just “good enough”—it’s right for your family, your lifestyle, and your peace of mind.
Ready to review your policy? Give us a call or send us a message today.
