Insuring Expensive Items like a phone or Jewelry.
If you own valuable jewelry, an iPhone, valuable guns, or other items that have a high value, you should consider protecting it with an inland marine insurance policy. Inland marine insurance can supplement your existing insurance policies and provide added coverage for your prized possessions. What Is Inland Marine Insurance? The term “inland marine insurance” came from marine insurance, which insured property that was transported over the water. Inland marine insurance then came about to protect property as it was transported across land. Today, inland marine insurance may cover several types of movable property, and it may supplement existing insurance policies. Although a standard homeowners insurance policy may provide some protection for jewelry, it may not offer all the coverage you need. The disadvantages of using your homeowners policy to cover your movable property include: Since jewelry and other items are easily misplaced or stolen, a standard homeowners po...