A Crash Course in Insurance: Personal Articles Policy
What in the world is a personal articles policy?
Well, its specific coverage for things like Guns, Tractors, Jewelry, Tools, Collectibles, Instruments, Sports Equipment, Silverware, Horse Saddlery and Taxidermy…….just to name a few!
These specific named items are covered with no deductible, anywhere in the world with broader coverage and fewer limitations than other more common options. A personal articles policy allows you to pick those specific items that are dear to you, or those belongings of higher value or even possessions that have some uniqueness that you would like to have protected. Below are a few examples of how applicable a personal articles policy can be, and how it might be something to consider.
Example #1 – Mr. Sportsman has a beautiful collection of firearms that not only travel to and from the range and the hunting ranch, but also travel internationally on hunting excursions. All those beauties are covered with a personal articles policy and a very reasonable monthly rate!
Gun Collection = $15,000 Value
$0 Deductible $8/Month Premium
Example #2 – Mrs. Betrothed is wearing an incredible engagement ring that was gifted down from her fiancé’s grandmother. This incredible occasion and beautiful ring are all covered, and this new family is getting started by making some great financial decisions!
Jewelry = $25,000 Value
$0 Deductible $18/Month Premium
Example #3 – Mrs. Connoisseur has a world class wine collection that is continually growing and represents every region and type imaginable. This precious collection is now covered!
Wine Collection = $100,000 Value
$0 Deductible $36/Month Premium
Example #4 – Mr. Renaissance has spent decades putting together an impressive collection of fine arts from all over the world! Including original paintings, taxidermy, sculptures, and rare artifacts. His time and monetary investment in this magnificent collection is now protected with a personal articles policy!
Fine Art = $500,000 Value
$0 Deductible $55/Month Premium
These quotes only contain a general description of available coverages and limits, with a premium estimate. These estimates are subject to eligibility and Agent binding authority. They are not a contract, binder, or coverage recommendation. All coverages are subject to the terms, provisions, exclusions, and conditions in the policy and its endorsements. If information used for rating changes or different rates are effective at the time of policy issuance, this rate quote may be revised.