What items are not covered, or may have limited coverage, under my homeowner's insurance policy?

What items are not covered, or may have limited coverage, under my homeowner's insurance policy?

Sam Friedman (Editor-in-Chief, National Underwriter, Property & Casualty Edition) gives expert video advice on: If I have a dog, can I get homeowner's insurance?; If I am turned down for homeowner's insurance, what can I do? and more...

Under your standard homeowner's insurance policy, there may be some special types of properties of high value that won't automatically be covered. For instance, a homeowner's policy will cover the replacement when you lose your clothing in a fire. They'll buy you a new winter coat. They'll buy you a new suit. They won't necessarily replace a mink coat unless you bring this to their attention at the beginning when you buy the policy and the coat is appraised and added on as an endorsement. The same should be done if you have any fine art, a very valuable painting or any other collectables like baseball cards that happen to be valuable. You know that Mickey Mantel card from 1968 won't automatically be covered unless you bring it to the attention of the insurer and they add it on as a scheduled endorsement so that everyone knows up front what the value is, that it is covered under the policy and there is no misunderstanding if any of that property damaged or lost.