This is a sponsored post written by me on behalf of Nationwide Mutual Insurance Company. All opinions are 100% mine.
Nationwide provided me with information regarding its blog post. Have you thought about what is really valuable in your house? Think about those things you would stop and grab if your house was on fire. What things are most valuable to you?
What’s Truly Valuable in Your House
We are often more driven by our heart than our head when we think of these items. It may be a place to begin as we start to take inventory of our possessions and assess what we should insure. Nationwide is here to help us decipher the difference between what TO and NOT TO insure and What’s Truly Valuable in Your House? You will find that it might not be as obvious as we may think. Figuring out what we actually need to insure may take a bit more thought and research. Perhaps more than most of us care to admit, our home can end up being a storage unit for family. Those stored items would actually not be included in your household inventory. If they live in the home or you regularly store their things, you may need to look into a tenant’s policy to cover those items. These often-overlooked items can include:
- Musical instruments
- Professional or scientific equipment or gear
- Sports gear
- Seasonal gear
- Power and hand tools
- Recreational vehicles
If you discover a long list of these types of items, you may need to talk to your insurance agent about options to cover the liability. Additionally, most likely even harder to consider as not valuable, are those things we hold emotionally important. There will be things that are not worth insuring — in addition to — those items that are worth adding insurance protection. Again, Nationwide breaks it down for us to easily distinguish the difference:
- Fine furniture
- Genuine jewelry
- High-end electronics
- Sterling silver
- Art with an established provenance, such as signed limited-edition prints
Probably adequately insured by homeowner’s policy:
- Easily replaceable items such as not-rare books, electronics and appliances
- Unfinished projects
- Nonfunctional and obsolete electronics and appliances
- Office supplies, pantry inventory and other consumables
- Holiday decorations
Are you surprised by the list? Most items hold more sentimental value than actual market value. For me, losing my lifetime collection of photos would be most devastating. Knowing this, I not only have tangible copies, but I also back them up digitally — as well as keep hard copies of them all in a fireproof safe. It’s important to know the difference between what is valuable and what is not. Nationwide is one of the largest insurance and financial services companies in the world.
Owned by policyholders, Nationwide is a Fortune 100 company that offers a full range of insurance and financial services across the country, including car, motorcycle, boat, homeowners, pet, farm, life and commercial insurance, as well as administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. Learn more about Nationwide by visiting their blog, In The Nation.