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Andrew K. Sloane
Registered User
Username: Claimsranger

Post Number: 3
Registered: 12-2001
Posted on Sunday, March 31, 2002 - 11:42 am:   

Now, the rest of the story! 2nd page, $500 limit on jewelry, watches and furs. Period, to increase your coverage for your Rolex and Russian Sable along with the 9mm strand of pearls you picked up in Hawaii working Iniki, is by endorsement and a scheduled value for each item. You might want to look into a personal articles rider also. This is TEXAS Y'ALL. WHOLE NOTHER COUNTRY.
curt corcoran
Registered User
Username: Pat

Post Number: 3
Registered: 4-2001
Posted on Friday, March 22, 2002 - 10:39 am:   

I would like to thank the members of this forum for helping me understand how to interpet the language contained in my policy.


Sincerely, Curt
Tom Strickland
Registered User
Username: Toms

Post Number: 33
Registered: 12-2001
Posted on Tuesday, March 12, 2002 - 7:18 am:   

A very correct and informative thread with all answers requiring the old find the HO-B policy and review.
How interesting, for a change!!!!
D Wong Whey
Registered User
Username: Dwongwhey

Post Number: 82
Registered: 10-2001
Posted on Monday, March 11, 2002 - 7:19 am:   

Clayton, you are correct that the "jewelry, watches and furs" limits WITHIN Coverage B are SUB-LIMITS of Coverage B coverage.

Jewelry, watches and furs are considered personal property under Coverage B with special sub-limits applying which limit total loss by theft to $500.00 aggregate.

The homeowner could have insured to cover this type of excess risk exposure by an endorsement which would have scheduled excess sub-limit values.

In the event that other personal property damage had occurred and Coverage B (Personal Property) limits reached prior to considering the loss value for the watches, there would have been no additional coverage available for the watches as the 'watches, jewelery and furs' sub-limits are part and parcel of the Coverage B limits.

Check the enclosed weblink for a comparison of the Texas HO-B and State Farm Texas HO-B policies.

(Message edited by dwongwhey on March 11, 2002)
Clayton Carr
Registered User
Username: Clayton

Post Number: 42
Registered: 11-2001
Posted on Sunday, March 10, 2002 - 11:01 pm:   

Curt, your quandry is an often faced situation of an insured. While I have had little good fortune over the years in having an insured smile and say thanks after I explained it; I always try hard to explain their perceived short fall so at least they understand how the "language" of the policy left one of their pockets empty.

Kile, I think your answer perhaps misguides Curt; while Ghost (and I'm glad to see you active again) comes quickly to the correct issue.

Looking at my Tx HO Form B (eff 1/1/94 issue), page 3 - Coverage B - tells you what it is - personal property and further in #1&2 describes types of PP covered and its' covered locations. This simply and only lays out what PP is and where it is covered - NOT what perils it is covered for.

Following that, within Coverage B, the policy limits some of that PP if lost - in the case of #3 Jewelry/watches/furs - due to theft.

Therefore, when you look at the line you quoted, ".... my PP RC endst states .... payment will not exceed the smallest of the following (a) the Coverage B LIMIT OF LIABILITY ...." - it is those last three words you have to grasp and how they apply to a certain type of PP lost by theft; i.e. your watches at $500.00 in total.
Username: Ghostbuster

Post Number: 227
Registered: 12-2000
Posted on Sunday, March 10, 2002 - 7:42 pm:   

Wouldn't ya know it...I can find my Texas Dwelling policy but not my HOB. Anyhow, as memory serves, the jewelry limitation of $500 applies to certain named perils, specifically theft. Other perils do not apply to this limitation.

Yeah, I know. Reading and trying to comprehend an insurance policy is a guaranteed cure for insomnia.
Kile Anderson
Registered User
Username: Kileanderson

Post Number: 140
Registered: 1-2001
Posted on Sunday, March 10, 2002 - 4:37 pm:   

Jewelry, watches and furs usually have a seperate limit from normal B limits. They are not considered coverage B. If you have an endorsement for coverage B replacement cost then watches are not covered by that because it applies to the coverage B limit, not the Jewelry Watch and Fur limit. If you need coverage for these items they needed to be listed and subject to additional premium.
curt corcoran
Registered User
Username: Pat

Post Number: 2
Registered: 4-2001
Posted on Sunday, March 10, 2002 - 4:31 pm:   

My Texas Homeowners Form-B Policy states in Coverage B, Personal Property there is a "Special Limit of Liability" of $500 for jewelry and watchs. The Declarations Page states my Coverage B, Personal Property, Limit of Liability to be in six figures.

My Personal Property Replacement Cost Endorsement states:

Payment will not exceed the smallest of the following: a. the Coverage B (Personal Property) limit of liability;

I lost 10 watchs in a burglary, receipts show my actual loss to be approximately $1890. The replacement cost will be much more. There is no mention of are referral to a Special Limit of Liability of $500 on jewelry and watchs in the Endorsement.

The Carrier only wants to pay $500 on the watchs. It is my opinion that absent a Special Limit of Liability of $500 for watchs and jewelry in the Replacement Cost Endorsement you refer to the Declarations page for the limit.

All help on how to read the polcy and endorsement will be appreciated.

Thank you, Curtice

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