The sublimit on jewelry is generally either $ 1,000 or $ 1,500 depending on the underwriter.
If you have a $ 500 deductible, and a $ 200
sublimit on cash, and the money is the only thing stolen you wouldn't bother to make a claim on it because nothing would be paid out.
You can increase that
sublimit on jewelry if you need to, and it's not very expensive at all to do so.
If you have a $ 500 deductible, and a $ 200
sublimit on cash, and the money is the only thing stolen you wouldn't bother to make a claim on it because nothing would be paid out.
In addition, you can get coverage for jewelry, fine arts, and other classes of property which may be
sublimited on the base policy form.
There are
sublimits on your personal property for such things as jewelry, furs, fine arts, silverware, money and securities, stamp and coin collections
Not exact matches
Do you have jewelry that might exceed the
sublimit for that class of property and need to be endorsed
on?
A
sublimit, in simple terms, means a monetary cap
on a specific type of property.
If your boat is worth more than $ 1,500, chances are good that your renters insurance or homeowners insurance won't cover it for physical damage because of the HO - 4
sublimits we've touched
on elsewhere.
Finally, in 2014 LAWPRO introduced a
sublimit of coverage for losses related to cybercrime, recognizing that prevention of these losses is more closely dependent
on the appropriate use of information technology, and not
on the application of legal skill.
Thus, where a claim based
on cybercrime (now a defined term under our policy) would otherwise be eligible for coverage (because it arises from a lawyer's delivery of professional services), it will be covered, but only up to a
sublimit of $ 250,000, including defence, repair and indemnity costs together.
If a loss occurs, your insurer will not pay more than the
sublimit shown
on your policy.
Do you have jewelry that might exceed the
sublimit for that class of property and need to be endorsed
on?
Even though your sum insured is high, but you may not be claiming your entire hospitalization expenses due to the
sublimit clause
on specific medical procedures.
This means that regardless of how much personal property coverage you have, only that
sublimit regarding to jewelry would be paid out
on that class of property from renters insurance.
Check
on the plan with zero
sublimits or minimal
sublimits.
If your boat is worth more than $ 1,500, chances are good that your renters insurance or homeowners insurance won't cover it for physical damage because of the HO - 4
sublimits we've touched
on elsewhere.