Towne Insurance locations will be closed Thursday, November 26 and Friday, November 27 for Thanksgiving. We look forward to serving you when we re-open on Monday, November 30.
It's likely that some of your possessions qualify as antiques. Most homeowners (including condo and tenant) policies do not define this term, so we have to rely on a reasonable person's understanding; in other words a dictionary definition. Let's look at a definition found in the American Heritage Dictionary.
1. Of or belonging to ancient times,
2. Belonging to, made in, or typical of an earlier period and
3. Old-fashioned - An object having special value because of its age, especially a work of art or handicraft that is more than 100 years old.
Regardless the definition, basic property insurance policies are designed to handle common-place property. Special property coverage is either excluded or severely limited. To protect such property, it is important to either modify a policy by adding additional coverage or to purchase a special, separate policy.
Before arranging for coverage, it is important to establish the value of the property.
Properly describing and setting policy limits to protect uncommon and high-priced items eliminates problems at the time of loss. It reduces the chance of coverage being denied and more clearly defines what is covered and for how much. If you wonder whether you have the right coverage as well as the right amount of coverage, contact a Towne Insurance professional to discuss your situation. Perhaps you'll both develop a greater appreciation for arts and antiques.