Fireman’s Fund Insurance Company announced it has liberalized its Scheduled Valuable Possessions coverage to afford affluent clients greater convenience and extra protection without extra cost when insuring valuables, such as jewelry, fine art, collectibles, silver and the like.
According to the company, the enhancements raise the threshold required for appraisals, extend the “per item” limit on blanket coverage and increase the reporting time and limit for newly acquired property.
Fireman’s Fund added that upscale travelers on extended shopping trips in foreign ports will especially benefit from an increase from 30 to 90 days for temporary coverage allowed on newly acquired property destined to be itemized in the Scheduled Valuable Possessions policy. Also, Fireman’s Fund raised limits from 25 percent to 100 percent for new acquisitions that fall within a class of property clients already insured with Fireman’s Fund.
On itemized valuables covered on an Agreed Value basis, Fireman’s Fund raised the threshold for appraisals from $25,000 to $50,000. Under Blanket Coverage, Fireman’s Fund increased the “per item” limit to $50,000 from $10,000.
The coverage has taken effect in the following states: Arkansas, Arizona, Colorado, Connecticut, the District of Colombia, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Maryland, Maine, Mississippi, Minnesota, Missouri, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oregon, Pennsylvania, Rhode Island, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming.
California will be effective Aug. 1, 2001. Filing has been made and approval is pending for Louisiana and New York.
For more information about Fireman’s Fund, visit www.firemansfund.com.