Coverage for Jewelry, Silverware or Furs
For NJM, "Scheduled Personal Property" means personal belongings — jewelry, fur or silverware — which are individually valued in excess of $1,000 and specifically described on an endorsement to your policy. Special coverage for these items requires payment of an additional premium.
The standard homeowners policy includes coverage for personal property, including furniture, clothing, housewares, etc., up to the total dollar amount specified in your contract for "Coverage C — Personal Property." However, coverage for the following categories of valuable belongings is subject to specific dollar limits for theft loss only:
Jewelry, watches, furs and precious and semi-precious stones
Silverware, silver-plated ware, goldware, gold-plated ware and pewterware
If you want more comprehensive coverage for the above items up to their replacement values, without a deductible, you may apply for Scheduled Personal Property Coverage, which will increase the cost of your policy.
This coverage applies only to items owned by and in the possession of you and all other insureds while residents of the household.
Scheduled personal property coverage is available to NJM policyholders only, New Jersey Re-Insurance Company (NJRe) does not offer this coverage.
To apply for this coverage:
This information will be used by NJM to underwrite your request and, in the event of a loss, we elect to replace or repair your lost valuables.
Coverage cannot be considered bound until you are notified that you have followed the application procedure and that your application has been accepted and approved by our underwriters.