VIP INSURANCE OUR MISSION IS YOU. VALUABLE ITEMS POLICY www.afi.org
Our Mission Like those who serve our nation, AFI is dedicated to delivering protection and peace of mind. Our unwavering commitment to personal service is your everyday assurance of competitive rates, easy access to critical information and rapid response to your individual needs. Our History Since 1887, Armed Forces Insurance (AFI) has existed with a single, unwavering purpose: To protect the people who protect our nation. AFI was created and continues to be led by former military leaders. We understand and reflect your commitment to duty, honor, and integrity and we recognize the special needs of Department of Defense employees both military and civilian. Armed Forces Insurance is a reciprocal exchange, a type of cooperative insurer in which the policyholders bear a relationship to each other. In other words, AFI is owned by the policyholders.
Valuables Items Policy Maintaining the tradition begun at our founding in 1887, Armed Forces Insurance (AFI) provides property and casualty coverage designed to meet the specific and unique needs of America s military leaders and DoD personnel. For the military component of AFIE s business, frequent relocation places burdens that are unparalleled in civilian life. We understand the critical differences in lifestyles and insurance needs. Protection for the Homeowner Policyholder The Valuable Items Policy (VIP) takes care of your prized possessions anywhere in the world. Its purpose is to help you overcome some of the special limits of conventional homeowner policies. Conventional policies usually limit: (coverage amounts vary by state) Payment for theft of jewelry, watches and furs varies from $500 to $1,500. Payment for any covered loss to coin collections varies from $200 to $250 (Texas has a $100 limit). Payment for any covered loss to stamp collections varies from $1,000 to $1,500 (Texas has a $500 limit). In North Carolina: Payment for theft of firearms is limited to the lesser of 10% of the personal property limit on your homeowner policy or $10,000. Payment for theft of silverware or goldware is limited to the lesser of 25% of the personal property limit on your homeowner policy or $10,000. Under the conventional policy, losses due to the mysterious disappearance of an item must be related to theft. The mere losing or misplacing of an item, for example the loss of a gemstone from its setting is not covered. Nor are you protected if you accidentally break a camera lens, drop a spoon from your silverware into the garbage disposer, or chip/crack a gemstone.
Special Limits on Certain Property While the Armed Forces Insurance policy is regarded as excellent coverage, all property policies contain limits on the amount of coverage they provide for certain types of property losses. Listed below are some of these limits. $2,500 for silverware, silver-plated ware, gold ware, gold-plated ware and pewterware. Includes flatware, hollow ware, tea sets, trays and trophies made of or including silver, gold or pewter. $500 on cameras, their cases, lenses, and allied equipment (includes video cameras). $2,500 for musical instruments (this limitation does not apply to pianos or organs). $750 for university, college or service academy class rings. $2,500 for jewelry, watches, furs, precious and semiprecious stones ($250 limit for any one item, pair or set of such property). $2,500 for fine arts and antiques ($500 limit for any one item, pair or set of such property). $2,500 for firearms ($250 limit for any one item of such property). $250 on coins and medals or numismatic property. $500 on stamps or philatelic property. Coverage at a Great Price! The Armed Forces Insurance Valuable Items Policy is designed to allow you to select extra coverage for certain losses. Each $1,000 of coverage costs only $9.00 per year with no deductible. VIP coverage is issued as a supplemental coverage to the following policies: 1: Conventional Homeowner Policy; 2: Conventional Condominium Policy; 3: Comprehensive Household Goods (including Renters package).
Listing Items The VIP policy lists separately each item, or sets or pair of items, for which you have coverage. You provide the list and the value and we prepare a schedule of the items with the policy. To schedule means to allocate specific dollar amounts of insurance to individual articles which you list and describe. The following will provide examples of how to describe those items. Payment for loss to any scheduled item does not exceed the amount which you enter in the Amount of Insurance column. The unscheduled personal property insurance of most policies does not provide coverage for any item that you insure separately. Therefore, the figure you place in the Amount of Insurance column should be an accurate representation of the item s value. We recommend that you review your policy annually to maintain current replacement values. Pairs and Sets A pair or set comprises articles which naturally complement each other and the loss of one article may reduce the value of the entire pair or set by a sum greater than the value of the single article lost. Example: A pair of earrings, a pair of candlesticks; an antique silver punch bowl with a set of 18 matching cups. How to Describe Scheduled Items Stamp and Coin Collections Describe the items, groups or classes, with an amount assigned to each group or class. List specifically only those items which individually are valued at $100 or more. Please Note: At the time of loss, we require a detailed, substantiated statement of the items and values involved in the loss. If you cannot provide such a statement, payment will not exceed $250 even if you scheduled the collection for hundreds or even thousands of dollars more. Silverware, etc. This includes items made of silver, gold, pewter, and/or bronze such as tableware, flatware, hollowware, dishes, vases, and ornaments. Give pattern, manufacturer, number of place settings, number of pieces per settings, number of additional serving pieces of the same pattern and manufacturer.
Cameras, Projection Equipment, etc. (includes video cameras) Describe and list each camera, projection machine and other articles of equipment pertaining thereto. Specify the amount of insurance for each item. Fine Arts and Antiques This includes paintings, etchings, pictures, tapestries, hand woven rugs, Lladros, Hummels, statuary, marbles, bronzes, antique furniture, rare books, glass, and other bona fide works of art. There are several other factors which help determine if an item is a fine art or antique of any value: condition authenticity rarity age historical significance it is currently fashionable place where found or produced artistic quality (created by skilled crafts person) Prior to any loss, you should clearly identify and establish the value of the fine art or antique. In scheduling the item, describe it in detail. List the title, artist, color, size, type, age and any other designation that would make identification easy. Firearms and Weapons This includes guns and swords and equipment for use with them. Give make, model, grade, serial numbers and any other data which serves to identify. Jewelry, Watches and Furs Give name, color, cut, clarity and carat weight, and kind of metal used for mounting, and add any peculiarities helpful in identifying the item. Give the name of manufacturer, number of jewels, and other identifying data such as serial number. Furs include garments trimmed with fur or consisting principally of fur. Give name of fur, type of article, and other identifying data. Musical Instruments Give name of instrument, manufacturer, model. Class Rings Give name, weight of stone or stone, kind of metal used for mounting, and any peculiarities helpful in identifying the item. If you are uncertain of how to list any particular item, please call us at 800-255-6792 for assistance in scheduling.
Exclusions Some of the exclusions are loss and damage by: wear and tear; deterioration; smog; mechanical breakdown; moth; rodents; vermin; extremes of temperature; marring and scratching; war; nuclear reaction; and while the property is in the custody of a public carrier or storage facility for rough handling, improper packing, and the perils of loading and unloading. The Valuable Items Policy is not available for: Business property Aircraft Securities, deeds, tickets Real estate Water craft Animals, birds, fish Hearing aids Motor vehicles Campers Trailers and semitrailer Money, gold, bullion, silver, (other than silverware) Eyeglasses, Contact lenses Other Coverages Available From AFI Insurance for Boats, Motorcycles, Motor Homes, Antique and Classic Automobiles, High Value Homes, High Value Jewelry, Art, and Antiques. Contact us for more information: 800.820.3909
Who is Eligible to Join AFI? All active duty, former and retired military, including National Guard and Reserves Widows of the above Active or retired DoD civilian employees Children of AFI members Former AFI members Call 800.255.6792 for the right answers from a real person. For more information or a free instant quote visit: www.afi.org 1 58 835 04 10