Second, replacement cost of personal property is critical (as opposed to actual cash value). Replacement cost gives you the value of item according to what it would cost in today's dollars.  For example, you purchased a couch a few years ago for $500.  Today, to purchase a similar couch, you would need to pay $750.  Replacement cost will give you $750 (less your deductible) rather than actual cash value, which would be $500 or less. 

Third, there are a number of endorsements that can be added to your policy. One of the most critical endorsements is identity theft. Identity theft is one of the fastest growing crimes in America (according to the FBI), therefore, it may not be IF you’ll be affected, but when. Should identity theft happen to you, you may need assistance from your insurance carrier to resolve the matter and/or cover expenses accrued from the incident. For other endorsements that may be necessary for your family’s protection, meet with your agent and allow him or her to perform a thorough insurance review.

Finally, any valuable items that are appraised or have a stated value of $5000 or higher should be scheduled on your policy. The advantage in doing this is that should a loss occur for these items, you may not have to go through your deductible (or may have to pay a lower deductible) to get the item replaced. In addition, scheduled items can usually be replaced when a “mysterious disappearance” occurs, which is usually a loss not covered under the regular policy. For more information about this coverage, talk to your local agent.