By Jon Merwin, Founder and CEO, Licensed Insurance Advisor
Jewelry, watches, a gun collection, family silver and a coin set have one thing in common: a regular homeowners policy covers them much less than most owners think. The policy may have a large personal property limit, but inside it sit smaller “special limits” for exactly these things, and the theft and loss rules are narrower than people expect. This guide walks New Hampshire owners through those limits, how scheduling changes them, and how to keep the paperwork that makes a claim go well.
Portsmouth Atlantic is a family-owned independent agency in Portsmouth that compares 40+ carriers. We review valuables as part of the home, condo or renters policy, because that is where scheduled coverage usually lives. Questions? Call (603) 431-4020.
Key takeaways
- The standard ISO homeowners form limits theft of jewelry and watches to $1,500 for each loss, all items combined.
- Firearms and silverware have their own $2,500 theft limits, and cash, gold bullion and coins only $200.
- Losing a piece without signs of theft is often not covered unless the piece is scheduled.
- Property kept at a lake house or other residence of yours has a lower limit on the standard form.
- Scheduling lists each item with its own amount; appraisals and photos make that work at claim time.
- The New Hampshire Insurance Department urges owners to tell their agent about jewelry, art, collectibles and firearms.
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The special limits inside a homeowners policy
Most home policies in New Hampshire are built on, or close to, the Insurance Services Office (ISO) homeowners forms. The 2011 special form, HO 00 03, lists special limits that apply for each loss to every item in a category together, and those limits do not raise your overall personal property limit (ISO HO 00 03 05 11):
| Category on the standard form | Special limit for each loss |
|---|---|
| Money, bank notes, bullion, gold and silver other than goldware or silverware, coins and medals | $200 |
| $1,500 for loss by theft of jewelry, watches, furs, precious and semiprecious stones | $1,500 (theft) |
| Theft of firearms and related equipment | $2,500 (theft) |
| Theft of silverware, goldware, platinumware and pewterware, including flatware, tea sets, trays and trophies | $2,500 (theft) |
| Securities, deeds, manuscripts, passports, tickets and stamps | $1,500 |
Two details trip people up. First, the jewelry, firearms and silverware limits apply to theft; a fire is handled under the regular personal property limit, subject to your deductible. Second, coins and gold are in the $200 money category unless they are scheduled, which surprises many collectors. Your carrier may use its own form or a New Hampshire endorsement with different figures, so treat this table as the common baseline, not your policy.
Lost, misplaced or stolen: why the cause matters
On the standard form, the theft peril includes loss of property from a known place when it is likely that the property has been stolen. That helps when a bracelet disappears from a hotel room. It does not clearly help when a ring comes off in the surf at Hampton Beach, falls from a chairlift or goes down a drain. Those are losses with no evidence of theft, and an unscheduled claim can be denied.
Scheduled coverage is broader. Many scheduled forms insure against direct physical loss unless a listed exclusion applies, such as wear and tear or gradual deterioration, and some go further and name mysterious disappearance. Read your schedule wording, and if a piece you would grieve over is not scheduled, ask us to quote it both ways.
How scheduling works
Scheduling lists each item with a description and an amount of insurance. ISO’s scheduled personal property endorsement, HO 04 61, is the common model; carriers also use their own versions and personal articles floaters. Analysts summarizing the ISO form note several features worth knowing (summary of ISO HO 04 61):
- Classes. Jewelry, furs, cameras, musical instruments, silverware, golf equipment, fine arts, stamps and coins can each be scheduled.
- No deductible on the scheduled item under the ISO form, unlike unscheduled personal property.
- Worldwide coverage for the listed classes, which matters for pieces you wear when you travel.
- New purchases. If you already schedule jewelry, a newly bought piece is covered for a limited amount, the lesser of a quarter of the class limit or $10,000, if you report it within 30 days.
- Pairs and sets. Losing one earring of a pair triggers a pair-or-set clause rather than simply half the value.
- Coins and stamps have their own exclusions, such as fading, handling and shipment by mail other than registered mail, so collections need careful listing.
Some carriers also offer blanket coverage for a class, such as jewelry, with a per-item maximum. It is handy for everyday pieces; the engagement ring and the good watch still belong on the schedule.
Lake houses, ski places and other residences
Many New Hampshire families split time between a main home and a lake or mountain place. On the standard form, personal property usually kept at a residence of yours other than the insured home is limited to one-tenth of your personal property limit, or $1,000 if that is greater. Theft at that other residence is excluded unless you are temporarily living there. If jewelry, a watch box or a gun safe lives at the second home, it needs its own look.
A second home usually has its own policy too. For that side, see our New Hampshire homeowners insurance page.
Firearms, silver and coin collections
New Hampshire owners often keep a few firearms, inherited silver or a coin set that grew over decades. Each runs into a different cap: $2,500 for firearm theft, $2,500 for silverware theft and $200 for coins and bullion on the standard form. A gun safe and a home alarm help with underwriting, but they do not change those limits. Scheduling or a separate floater does.
If you collect cars as well, our New Hampshire collector car insurance page covers that side of a collection.
Appraisals and records
The New Hampshire Insurance Department recommends a home inventory with photos of each room and notes on key items, stored in the cloud or off-site, with receipts, serial numbers and appraisals kept where possible. It also advises owners to tell their agent about jewelry, collectibles, art and firearms and to ask whether endorsements or riders are needed. The NAIC suggests reviewing the inventory every year (NAIC consumer guide to home insurance).
- Jewelry. Metal, stone weights and grades, measurements and maker. Keep grading reports with the appraisal.
- Watches. Maker, model, reference number, serial number and case material, plus the box and papers if you have them.
- Firearms. Maker, model, caliber or gauge, serial number and photos, stored away from the safe itself.
- Silver and coins. Pattern names, piece counts and weights for silver; grade and mint details for coins.
Values move. If a piece is now worth more than its scheduled amount, you may be underinsured; if less, you may be insuring value you could not collect. Many owners refresh appraisals every few years.
Where the carrier fits
Valuables coverage rides with the home, condo or renters policy, so the carrier that suits the house usually decides the options. For larger homes, Cincinnati and Chubb write homes at any dwelling limit, and Openly writes homes up to $5 million; our New Hampshire high-value home insurance page explains that side, and Upper Valley owners can read our Hanover, NH high-value home page. If your liability exposure is growing with your assets, our New Hampshire umbrella insurance page is the next read, and our luxury homeowners insurance guide covers the rest of a high-value policy.
Review your jewelry and valuables coverage
Send us your declarations page and a short list of the pieces you care about. We show what your current policy pays for each, what scheduling would change, and what the carrier needs to see, and we don’t charge any fees. Our team brings 200+ years of combined experience, and if a ring goes missing or a safe is broken into, we work the claim with you. Request a quote. There’s no obligation to buy. The request form is just below; you can also call (603) 431-4020, email insure@portsmouthatlanticins.com or open our quotes page. Hours are Monday–Thursday, 9 AM to 5 PM, and Friday, 8 AM to 4 PM ET. More about who leads the agency is on Jon Merwin’s page.
Frequently asked questions
Does homeowners insurance cover jewelry in New Hampshire?
Yes, but with a cap. On the widely used ISO homeowners form, theft of jewelry, watches, furs and precious and semiprecious stones is limited to $1,500 for each loss, for all of those items together (ISO HO 00 03 05 11). Fire and other covered damage are not held to that theft cap. Your own policy may use different numbers, so look at the special limits section or send it to us.
Is a lost ring covered if nobody stole it?
Often not on an unscheduled basis. The standard theft peril includes loss from a known place when it is likely the property was stolen, which is not the same as a ring that slipped off at the beach or on the ski hill. Scheduling the ring is the usual fix; many scheduled forms cover loss without a known cause. Confirm that wording before you rely on it.
Do I need an appraisal to schedule a piece?
For jewelry and watches, most carriers want a recent appraisal or a bill of sale with a full description. For diamonds, a grading report from a lab such as the Gemological Institute of America (GIA) helps. For firearms, a list with maker, model, caliber and serial number, plus photos, is a good start. We tell you what the carrier asks for before you pay for anything new.
What about jewelry kept at our lake house or ski place?
Check it. On the standard form, personal property usually kept at a residence of yours other than the insured home is limited to one-tenth of your personal property limit, or $1,000 if that is greater. Theft from that other residence is excluded unless you are temporarily living there. Scheduled items are generally covered wherever they are, which is why owners with second homes often schedule the pieces that travel.
Are firearms and gun collections covered on a home policy?
With a limit. The standard form caps theft of firearms and related equipment at $2,500 for each loss. Fire and other covered damage are handled under the regular personal property limit. A collection worth more than that is usually scheduled piece by piece, and some owners add a separate floater. Tell us how and where the collection is stored when you ask for a quote.
What should I send to review my valuables coverage?
Your homeowners, condo or renters declarations page, any existing schedule, and a list of the items you are worried about with appraisals, receipts or photos. Add where the pieces are kept, including any safe or bank box, and whether they travel. Request a quote. There’s no obligation to buy. The form on this page works, or phone (603) 431-4020.
Sources
- ISO Homeowners 3 Special Form, HO 00 03 05 11: special limits of liability, theft peril, limit for property at other residences
- Summary of ISO HO 04 61, Scheduled Personal Property Endorsement
- New Hampshire Insurance Department: home inventory and coverage review guidance
- New Hampshire Insurance Department: homeowners and renters insurance
- NAIC: A Consumer’s Guide to Home Insurance
This page is general background for New Hampshire owners of jewelry, watches, firearms, silver and collections. It is not legal advice, it does not put coverage in place and it cannot predict a claim decision. Each carrier’s own form, endorsements and underwriting govern what is paid, and those documents change. Questions about a particular piece can go to (603) 431-4020.