Why having insurance does not mean you are covered

Thieves broke in and cleaned out Martha's apartment, and even though she carries renter's insurance she found out it was not enough to replace all of her jewelry.  

 

"Only $1,000 worth of jewelry was covered in my policy," she said.  "I needed a rider to cover all of the jewelry that was stolen."

 

The State Insurance Commissioner, John Doak, says that's a consideration for a lot of items, including jewelry, furs, fine art.   

 

"Much like guns, baseball cards, any type of collectibles there's going to be specific limits within your policy.  Unless you have a rider," said Doak.

 

Taking pictures of all of your valuables and keeping receipts will help if you do face a situation that requires you to file an insurance claim.