Did you know that a standard homeowner’s policy replaces on an actual cash-value basis and for only the perils named in the policy? There are two coverages that can provide additional protection for you.  They add great value, costing just an additional small percentage of the premium.Personal property replacement cost coverage provides replacement of a lost or damaged item with an identical item or a comparable item with no deduction for depreciation.  For example, without this coverage, the loss of an older television would only be compensated for the actual cash value of the television. But with personal property replacement, they would be able to get a new television of the same kind.
Special personal property coverage means all personal property losses are covered for all risk, unless specifically excluded in the policy. For example, a diamond bracelet goes missing. Under the standard homeowners policy, this would not be covered unless it is actually the result of a theft  But under special personal property, this mysterious disappearance is covered less the deductible.  Another good example is an overflowing toilet or sink that has  water going onto 2nd floor bathroom and causing leakage to room below it. With special personal property,this loss is covered less the deductible of course.

If you are concerned whether or not you have either of these coverages, call me to discuss this at 314-968-4444.