Homeowner’s Academy
This is your guide to interesting facts, tips and general homeowner information. We hope you find the information useful – and feel free to share with friends!

Is Jewelry Covered by My Home Insurance Policy?

Spring cleaning often comes with a fresh coat of paint. Painting can be a great way to change the feel of a room or give your home some great curb appeal. Painting also plays a role in home repair by protecting the wood of your home against the elements, essential here in Florida.

If you decide to try your hand at painting this spring, People’s Trust has some tips that can keep the experience enjoyable and safe for everyone in your family.

Try Some Eco-friendly Paint

Spring conjures up the sniffles for many people in the great outdoors, but paint may do the same thing inside of your home. Household paints have previously contained up to 300 toxic chemicals, including the hazardous volatile organic compounds (VOCs) that release particles into the air for years after you paint.

Try a low-VOC paint, which tends to be water-based, for any home interior painting. These have taken off in recent years and come in every shade and finish imaginable. Some brands also create no-VOC paints by replacing chemicals with more natural ingredients. These no-VOC paints are often pet-safe, but always check the label and never leave your pet unattended in a room where paint cans are open.

Home Repair Supervision

If you have children, never let them be in a room with open paint cans by themselves. If children are under the age of 10, they should never be in a room with any open painting materials. Even eco-friendly paints are extremely dangerous if ingested. If you believe your child has ingested any paint, immediately call poison control at 1-800-222-1222.

Try Cloth Catchers for Indoor and Outdoor Painting

You can pick up plastic sheets to protect your floors and lawn, but these often move and tear as you walk around painting. Turn to cloth or canvas drop cloths that will stay in place easier and can be weighed down with objects without the risk of tearing.

For painting the outside of your home, try a tarp with tie-holes. These can be staked into the ground to provide a steadier surface for a ladder.

Ventilate: Make Room to Breathe

If you’re painting inside, open the doors and windows. If your room has a fan, turn it on. You want proper ventilation for any space you’re painting to help air out the room and not breathe in paint fumes. If you can’t ventilate where you’re working, get a respirator and only paint in short stints.

Ventilation is essential to most common home repair improvements.

Stick to the Shade

If painting outside, you know that you need to take a break in the shade, but what about your materials? Paint, paint thinner and lacquer all need to stay in the shade as much as possible when painting outdoors.

Not only can heat and sun alter some of these items when they’re sitting in the can, but heat can also be a big problem for these flammable items. The city of Las Vegas actually warns its citizens to be careful when painting their homes or canvases outside because paint thinner has been ignited by the sun and started home fires.

Clean Up after Home Repairs

When you finish painting for the day, clean up the entire space. This will prevent spills and any accidental exposure.

Latex paints can typically be cleaned from surfaces and your skin with soap and water. Oil-based paints will have specific cleaning instructions located on the paint can itself. Take a look at your can before you start painting and write down what it says, because paint often spills on the outside of the can during the painting process.

Gasoline was once used to clean paint off of brushes, but this should never be used. Gasoline is extremely dangerous and should never be used as a cleaner for any object.

It’s always a smart practice to clean up and watch your space clearly when doing any home repair project.

Roses are red… violets are blue… my jewelry was just stolen… what should I do?

Many homeowners may be wondering, “Does my home insurance policy cover this beautiful piece of jewelry?”

It Depends…

While personal property coverage is included under most standard home insurance policies, there are a few exceptions when it comes to valuable items such as jewelry.

According to the Florida Department of Financial Services, standard home insurance policies usually have special limits for coverage on jewelry and other valuable personal items in order to keep premiums at a reasonable price.

In the case of People’s Trust Insurance, a standard HO3 policy maintains a $1,000 limit for loss by theft of jewelry, watches, furs, and precious and semi-precious stones.

It is important to review your People’s Trust Insurance policy to confirm your level of coverage. If you need more coverage, you may be able to add an endorsement to your current policy.

Endorsement Options: Blanket Coverage vs. Scheduled Coverage

Blanket Coverage

With a blanket coverage endorsement, you set a total insured amount for all your jewelry rather than each piece. Though not required, you may want to appraise your jewelry to prove ownership and value in case you need to file a claim.

Advantage: Blanket coverage does not have a deductible and usually covers more risks than a standard homeowners insurance policy.

Disadvantage: Blanket coverage policies generally have per-item claim limits of $1,000 to $5,000.

Scheduled Coverage

With a scheduled coverage endorsement, you itemize all jewelry items you want to insure. Scheduled coverage protects against all types of loss and damage, with the exception of normal wear and tear.

Depending on eligibility, scheduled coverage may increase coverage limits to $10,000 or more. This endorsement does not factor in appreciation, so you should periodically appraise your jewelry to ensure you’re receiving adequate coverage.

Advantage: Scheduled coverage offers “mysterious disappearance” coverage, so if you lose a piece of jewelry, it will be covered. Since you have to appraise items in order to schedule them, this ensures that you’ll receive the correct amount of coverage for each item.

Disadvantage: Scheduled coverage is more expensive and requires you to appraise items.

Which Coverage Option Is Better?

Once again, it all depends… The New York Times recommends adding blanket coverage for less expensive items like smaller pieces of jewelry. For more valuable items, especially expensive jewelry worn on a daily basis, scheduled coverage is highly recommended.

Replacement Cost Coverage vs. Actual Cash Value Coverage

In case of jewelry or other personal property loss, it’s important to understand the difference between Personal Property Replacement Cost and Actual Cash Value coverage.

A standard homeowners policy includes coverage for your personal property at Actual Cash Value that factors in depreciation at the time of loss. If you select the Personal Property Replacement Cost coverage endorsement, for an additional premium, People’s Trust Insurance will settle losses to your specific personal property at the current replacement cost without considering depreciation.

The Personal Property Replacement Cost endorsement also provides replacement cost for several building items that would otherwise be limited to Actual Cash Value. This includes: awnings, carpeting, household appliances, and outdoor antennas/outdoor equipment.

No matter what type of home insurance you have, it’s important to have a recorded inventory of your personal property along with proof of value in case something were to happen.