Post details: Homeowners Insurance: Need More?


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Homeowners Insurance: Need More?

Stephanie Losee
It might be worth paying for additional coverage if doing so will give you peace of mind.

Typical Values

The typical homeowners policy provides only limited coverage for many valuables. Here are some standard limits and the cost to increase those limits. Of course, prices vary, depending on where you live and the type of coverage you have.

The limits listed below cover all perils, unless otherwise indicated. The items that list "limit of loss by theft" have specific coverage amounts in the event of theft. If those items were lost under another peril, you'd receive the replacement cost or the cash value, depending on the type of policy you've chosen.

Money, bank notes, bullion, coins, and metals

Limit: $200

Cost to increase limit: $6 per $100

Securities, manuscripts, stamp collections, and valuable papers

Limit: $1,000

Cost to increase limit: $5 per $100

Watercraft (including their trailers, equipment and motors), trailers, grave markers

Limit: $1,000

Cost to increase limit: Not permitted

Jewelry, watches, and furs

Limit of loss by theft: $1,000

Cost to increase limit: $10 per $1,000


Limit of loss by theft: $2,000

Cost to increase limit: $3 per $100

Pewter, goldware, silverware

Limit of loss by theft: $2,500

Cost to increase limit: $16 per $5,000

Home business property

Limit: $2,500

Cost to increase limit: $25 per 2,500

Rough Estimates

Here's a rough estimate of how much you'll pay annually to insure the following selected items, per $100:

Bicycle $9.00
Cellular phone $5.00
Coins $1.53
Furs $0.55
Fine art $0.45
Golf equipment $1.11
Jewelry $1.15
Photo equipment $1.35
Silverware $0.40
Sports and hunting equipment $2.00
Stamps $0.60

Rates vary for other property, such as computers, tools, and electronic equipment.

Source: Missouri Association of Insurance Agents

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