Picking a home insurance policy that addresses your goals and needs in Albany, NY can seem challenging, especially if you have just purchased a new house and you are concerned about a variety of items that you keep in the building. Although your policy will usually address most of your goals and concerns, it is possible that there are items that may not be covered.

Expensive Belongings

Certain items that are very expensive may or may not be covered by your basic policy. For example, a very expensive piece of jewelry or an heirloom painting may not be covered by your insurance.

Expensive items that are not covered can vary and some insurance companies may offer limited coverage for the items. The limited coverage will usually provide a specific dollar amount that the company will pay for lost, stolen or damaged items, but it may not be enough for all of your expensive belongings.

High-Risk Items

A high-risk item, like a trampoline or a pool, may not be covered under your home insurance policy, even if you keep it in the house and the risk is limited. The reason is that the liability for the item may be higher than expected and you may need to purchase a separate plan for the item and the associated risks.

Insurance companies may exclude specific items from your policy based on the risk, but that does not always apply to every plan so it may be necessary to evaluate the policy before you determine if it is appropriate.

While certain items in your home may not be covered by your policy, the majority of your personal belongings will be protected. Contact us to speak to an agent to learn more about your options and the policies that are available.