Glossary

This is the owners bedroom and includes wardrobes and closets associated with this room. For many homes, the greatest single concentrations of values for personal possessions are in these closets. Clothing alone, if it had to be replaced suddenly, could easily run $10,000, $20,000, $30,000 or more. Closets and drawers in the Master Bed Room are also used to store jewelry or family heirlooms that have significant value relative to the space they take up.

In a nutshell these are what to look for: jewelry, art, clothes and hidden items. If you have a lot of, or very expensive, jewelry or art you will want to adjust this room summary. Most of us would be surprised at the value of our clothes; a man's wardrobe can easily top $7,000 to $10,000 and a woman's wardrobe in excess of $20,000 is not that unusual. Start with your shoes. If it takes more than $2,000 to replace your shoes then you will want to do a quick estimate of all Master Bed Room wardrobes and adjust Personal Risk Wizard estimates. And don't forget those valuable things you have under your bed or on the shelf in your closet. You may need to adjust for those if their value is over $500 each.

• Master Policy

• Do I need a condominium policy if my condominium association has a master policy for the complex?