• Why it matters: Many companies will increase their package discounts based on the total lines of business written on the package policy.

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• What you should do: Purchase at least $1,000,000 of umbrella (excess) liability and schedule your jewelry, fine arts or other valuables on a valuable items floater.

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• TIP: Agreed value for valuable items means that the insurance carrier pays the amount listed on the policy without negotiating the value at the time of loss.