Have some new jewelry in the house? Protect it!

Ah, Valentine’s Day is near, and love is in the air. Well, love and a few other things, such as chocolates, romantic dinners, candy hearts that say “Be Mine” – and, of course, jewelry.

It’s exciting to receive jewelry from a loved one — or to give it as a gift. Not to mention romantic. But if you’re lucky enough to have some new jewelry in your Ohio home this Valentine’s Day, you should take a few minutes to think about something you probably don’t find exciting or romantic: insurance.

Don’t know where to turn? Don’t worry. At Hummel & Plum Insurance Agency, we think it is exciting to help our customers protect what’s most important to them — so we’re ready to help and can answer all of your questions.

Things to consider when insuring jewelry:

You may need to purchase additional coverage. Your homeowners policy covers valuable items such as jewelry only up to set amounts. If the cost of replacing your jewelry exceeds that limit, you will want to purchase scheduled personal property coverage. You can check your policy or give us a call at 740-477-3311.

You might want to reconsider your deductible amounts. As always, this impacts your policy premium. It’s a good idea to take a look at your deductibles whenever you make a change to your policy.

Do you need an appraisal? You may need to have an independent appraisal if the insurance company requires it or if you don’t know the value of your jewelry. Each item should be listed with a description and value on paper.

What kind of coverage is offered? You’ll want to determine if items are covered no matter where they are, whether they’re in Circleville, Chillicothe, Ashville, Mt. Sterling, Central Ohio, or on an international trip, and if the policy offers full replacement cost. You also should ask if you will be required to replace your jewelry if lost or stolen, or if you can simply keep the cash settlement.

Pictures can be helpful. Lost or stolen pieces of jewelry sometimes can be recreated if the jeweler has a good photograph to work from.

Should I go with a company that specializes in jewelry insurance? There are companies that specialize in jewelry insurance. Whether you choose one of these, or a company that we represent, you’ll want to make sure they are reputable and stable.

Is the value of your jewelry mainly sentimental? Is an item irreplaceable? If the answer to either of these questions is “yes,” you might consider foregoing insurance. But please, talk to us at 740-477-3311 before making that decision. That’s what we’re here for.

Of course, it’s important to store your jewelry securely when it’s not in use; a safe in your home or a safe-deposit box is best. We want your jewelry to be replaced if it’s lost or stolen, but we’d rather your sentimental and valuable pieces stay with you and your family for years to come.

Here’s hoping your Valentine’s Day is full of fun and romance. And if there’s no jewelry involved, well, there’s always next year!

Contact Us!

Hummel & Plum Insurance Agency can help you re-evaluate your insurance needs, just give us a call at 740-477-3311 to speak with one of our agents or contact us here.

Content provided by Safeco Insurance

Why a Home Inventory Is Important

Let’s try a little exercise: Can you list everything you own from memory?

Didn’t think so.

The fact is most people own more things than they realize. It’s easy to remember the cars, the computer, the TV. But what about that holiday china in the garage? Or every pair of shoes?

All of it is regarded as personal property for insurance purposes. And if your home is destroyed by fire or some other disaster, having a list of your possessions makes filing a claim easier — and helps you put your life back together.

Why should I complete a home inventory? What’s the best way?

Comparing the value of your belongings to the “contents” limit listed in your policy helps you make sure you have enough insurance to replace them if they are lost, stolen or destroyed as a result of a covered loss. The easiest way to take an inventory is to use a video camera, recording and describing items as you walk through your house. Or, you can use a regular camera and create a home inventory checklist.

Here are a few tips for completing and storing your inventory:

Add brand names and descriptions where you can, especially on large-ticket items. Serial numbers are helpful to note.

Keep any receipts you have with the list to make the claims process easier.

Store your video or photo inventory offsite so you won’t lose it if your house is damaged.

Update your personal property records when you purchase new furnishings and valuables.

Though the task may seem daunting, it’s important to try. An incomplete inventory is better than nothing at all.

How much insurance do I need?

We can assist you in analyzing your insurance needs and help you decide how to most effectively protect your personal property. You should consider full-value coverage, which will pay for the replacement value of your personal belongings. A standard policy typically covers personal property only up to its actual cash value, determined by taking the replacement cost and deducting depreciation, which can be substantial. (For example, a 5-year-old TV is usually worth much less than what it would cost to purchase a new one.)

Finally, remember your homeowners policy covers valuable items such as jewelry, furs, art and antiques, only up to set dollar amounts. If the cost of replacing them exceeds these limits, you may want to purchase scheduled personal property coverage.

The Insurance Information Institute has a FREE online tool that can help you create your inventory. Just visit www.knowyourstuff.org for more details.

We hope you’ll never need the home inventory, but preparing for the worst can prevent a lot of hassle later!

Here at Hummel and Plum Insurance Agency we want you to be both ready and safe.  That’s why it’s always a good idea to have an emergency kit handy in case of power outages or other issues — especially with any threat of stormy weather.  Here are a few recommendations from the American Red Cross below.

Emergency kit basics

• Water (one gallon per person, per day; keep a two-week supply at home)
• Food (non-perishable, easy-to-prepare items; two week supply at home)
• Flashlight and battery-powered radio, along with extra batteries
• First-aid kit, toiletries, medications and medical items
• Multi-purpose tool
• Copies of personal documents, along with family and emergency contact information
• Extra cash, clothing and blankets
• Cell phones and chargers
• Maps of the area

Do you love to go boating? Hummel & Plum Insurance Agency can help make your time on the water relaxed and worry-free! We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment.  You’ll enjoy being on the water even more when you aren’t worried about your safety, the safety your passengers, or your investment.

Hummel & Plum Insurance Agency can help make your time on the water relaxed and worry-free! We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment. The average boat costs less than a dollar a day to insure. You’ll enjoy being on the water even more when you aren’t worried about your safety, the safety your passengers, or your investment.

Ohio – Do you know what to look for in a watercraft insurance policy? Hummel & Plum Insurance Agency can help you determine the right amount of coverage to meet your specific needs. Just give us a call today at 740-477-3311 to get started. Here are some items you’ll need to consider when shopping for boat insurance in Hummel & Plum Insurance Agency.

• Navigational Area:
Know where you are covered in the water. Some companies, such as Safeco Insurance, offer protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, additional coverage area can be purchased.

• Agreed Value Coverage:
Watercrafts depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.

• Liability
Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.

• Medical Payments
Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.

• Physical Damage Coverage
Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, if it is stolen or damaged.

• Uninsured/Underinsured Watercraft Bodily Injury
Since boat coverage is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater, and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.

• Fuel Spill Liability and Wreckage Removal
Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to have this cleaned up, which can be time consuming and expensive.

• Personal Effects
Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment. Limits vary by state – check with Hummel & Plum Insurance Agency for information. Personal effects coverage does not include jewelry, watches or furs.

• Unattached Equipment Coverage
This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps etc.

• Emergency Assistance
The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.

Ohio – Do you know what to look for in a watercraft insurance policy? Hummel & Plum Insurance Agency can help you determine the right amount of coverage to meet your specific needs. Just give us a call today at 740-477-3311 to get started.

The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.

Homeowners – How much home insurance is right for you?  Based in Circleville, Chillicothe, Ashville, Mt. Sterling and Central Ohio, Hummel & Plum Insurance Agency understands the home insurance needs of our customers. We’ll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.

It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.

Once a review of your home and possessions indicates you are properly insured, it’s a good idea to reexamine your coverages and limits from time to time, especially whenever you make additions or improvements. Hummel & Plum Insurance Agency  can help you re-evaluate your insurance needs, just give us a call at 740-477-3311 to speak with one of our agents.