The cost of gold is still rising. Do you have enough insurance for your personal property? According to this article “Price check: Time to reassess your valuables” from CNN Money, you may not.
If you have a New York homeowners insurance, condo insurance, renters insurance, mobile home insurance, or personal effects insurance policy in-force for more than three years, and that policy has additional scheduled limits for jewelry, gold and silverware, or antiques; then I hope you have been getting annual updated appraisals of the values and submitting them to your insurance company.
Why? Because in the last three years gold has risen over 70% in value and silver has risen over 111%. In the last five years gold is up more than 190% and silver up a whopping 225% in value!
So, what do you think… are you under-insured on your scheduled valuables or not? Talk to your Middletown NY insurance agent and ask them what most insurance companies policies are regarding updated appraisal requirements. You’ll be in a better position in the unfortunate event of a claim, if you understand your companies requirements upfront.
Insurance Is Not Evil 