I Screwed Up — A Cautionary Tale About Insurance Policies

Boy, am I ashamed to admit this faux pas.

When we moved into our new home together last June, we got the requisite homeowners insurance policy through the same company that we had our renter’s insurance on. On the renter’s insurance, we had a rider for my engagement & wedding rings, my only real ‘bling.’ So when I called back to turn that renter’s policy into a homeowner’s policy, I thought that rider transferred with it.

Apparently, I was wrong.

In early June, we received the notice about the renewal, which our mortgage company pays out of our escrow account each year. I had made a note to call the insurance company to make sure the policy still had the jewelry rider attached.

In case you haven’t looked at the calendar, it’s now mid-August — and I *just* got around to calling to ask the question.

The verdict? The jewelry rider never transferred! So I’ve gone more than a year without insurance coverage on my rings. D’oh.

The insurance rep is going to call me back tomorrow to tell me whether the rider can be transferred from the old renter’s insurance policy, or if I have to reapply for coverage.

MORAL OF THE STORY: Always check your declarations page on your insurance policies to ensure you have the coverage you need. If I’d done that, I would have noticed that the jewelry rider didn’t make it over to the new homeowner’s policy.