You inherited Auntie Ethel’s antique porcelain vase from the Ming Dynasty – it has been valued at $25,000. It is not covered by your basic renter’s insurance (HO-4). How can you most easily (and cheaply) insure against the loss of or damage to this antique vase?
A. Purchase an all-peril HO-3 homeowners insurance policy. The vase will be covered under Part C (Contents).
B. Purchase a “personal article floater” in the amount of $25,000 to specifically cover the vase.
C. Purchase an umbrella policy that extends the normal coverage under Part C (Contents).
D. Build up a savings account equal to $15,000 to be able to replace the vase out of pocket.