What is a PAF or PAFP? It is a rider generally added to your homeowners policy to protect valuables such as jewelry, silver, furs, fine-arts, coin colletions, baseball card collections, other collectibles and valubles from all risk loss. If you have any items of value you should discuss this with your agent as most policies have a minimum limit of coverage on items of value. Depending on the type of item you schedule separately you will pay a specific rate per $100 or $1,000. Jewelry is generally the most expensive of all schedules running $12.50 on average or $15.62 for agreed value.
Our agency strongly recommends scheduling items of value and if they are of paticular value we recommend adding agreed value. Agreed value means in the event of a loss your claim will not be adjusted but settled for the amount the item was insured for.
We recommend you call us at Cargill Insurance to discuss any valuables or family heirlooms of significance and get our advise on what is the best type of coverage for your paticular situation.