Does your homeowners insurance cover that expensive artwork hanging on your wall? Read on …

Does your homeowners insurance cover that expensive artwork hanging on your wall? Read on …

My husband and I just returned from a trip to Las Vegas, and along the way we encountered an extremely unusual – and eye-catching – art installation smack in the middle of the desert.

The Seven Magic Mountains isn’t related in any way to the Six Flags Magic Mountains theme park in Valencia. But it certainly offers a visual counterpoint to the dry and brown desert landscape. Designed by artist Ugo Rondinone, it consists of seven columns of stacked boulders that are all painted in bright, day-glow colors. They tower 30 to 35 feet above the desert floor!

It’s unlikely that you have anything close to this in your home, but what about the expensive artwork that’s hanging on your wall? Or that pricey sculpture perched atop your fireplace?  In most cases, your home insurance policy won’t cover these items. But you can insure them by “scheduling” them. That’s when you itemize each item by the appraised value and insure them as such. But be prepared to offer proof of recent appraisals.

By scheduling, not only are you guarenteed the true value of the item, but this kind of coverage typically covers breakage and “mysterious disappearance,” which happens when it appears that an item might have been stolen, although there is no clear evidence to prove it.

What’s also good about scheduling, is that your deductible is usually a lot less than your home insurance deductible. 

You should also be aware that homeowner insurance policies have limits on cergtain categories of personal property:

  • Jewelry, watches and furs – The limit could be as low as $1,000 or as high as $6000.
  • Firearms – $2,000 to $3,500.
  • Silverware – $2,500 to $3,500.
  • Home computers – $5,000 to $6,000 (computers used for business can be covered for much less).
  • Money and coins – $250 to $300.
  • Securities and stamps – $2,500 to $3,000

These categories of personal property also can be scheduled. Another less expensive way to do it would be to purchase blanket coverage. But breakage and mysterious disappearance would not be covered perils under that coverage.

Remember, each carrier may have additional sub-categories – and limits on coverage vary by individual carrier. So it’s up to you to check on this.

If you have a central burglar alarm, a safe, or a safe-deposit box you can usually save money when you schedule.

It’s always good idea to have a household inventory – particularly if you have unusual or expensive items in your home. You can do this by writing it down in a standardized inventory form – or better yet, by video-taping all of the contents in your home. This also serves to remind you of all the items of value you actually have because we sometimes forget!

For more information on this or for a free household inventory, visit

And if you’re intrigued by those colored rocks, go check them out. But they’ll only be on display through May 2018, so don’t wait too long!