Claim words
Sublimit
A separate, lower cap on one category of things.
What it means for your money
Your policy limit is not the only ceiling. Certain categories (jewelry, watches, firearms, cash, collectibles) carry their own much lower cap that binds long before the policy limit does.
This is where people under-claim without realizing. A $30,000 contents limit does not mean $30,000 of jewelry is covered; a $1,500 jewelry sublimit means the rest is simply not paid, no matter how well you document it.
Read the special limits on your declarations pageWhere the number comes from
Listed on your declarations page, usually as 'special limits of liability'. It is a short list and it is worth reading before you build your inventory rather than after.
See this on real jewelry
- Contents limit on the policy
- $30,000
- Jewelry lost in the fire
- $8,000
- Jewelry sublimit
- $1,500
- Paid for the jewelry
- $1,500
Documenting all $8,000 does not move this number. A sublimit is raised before a loss by scheduling the items separately, not argued after one.
Sublimit sits next to deductible, peril and loss report. They tend to arrive together.
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Indemnia builds the itemized list this all gets applied to, with the receipt attached to the line it proves. See how it works.