The countdown to Christmas is on! The holidays are a magical season in which we can truly enjoy time with our loved ones and make memories. This holiday, you may be planning on gifting a present that is exceptionally high value—that engagement ring she’s been wanting, that laptop he’s been eyeing, or even that sweet new set of wheels to your much deserving loved one. Whatever you are gifting this year, you want to be focused on the joy of giving, not on the safety of your gift. You may want to consider giving yourself the gift of insurance—that is, insuring your high-value holiday presents this year.
Home Owners’ Insurance May Not Cover Your Presents: Home insurance is supposed to cover the items in your home—including presents—in the event of a fire or theft. However, most home owners’ insurance policies are capped and may only cover a portion of your present. If your present is lost to something that is not covered in your home owners’ policy, you may be left with no way to replace it. Review your home owners’ policy with your insurance agent and make sure you fully understand what it does and does not cover over the holiday season.
Get Your Presents Appraised: If something were to happen to your high-value gifts, you’ll want to be able to replace it as quickly and as seamlessly as possible. In order for that to be possible, you must be able to prove the value of the present. We recommend that you get your high-value presents appraised. If you are gifting jewelry, you can go to a licensed jeweler to get a certified appraisal. For other high-value gifts—like a piece of art —you will need to go to a specialist.
Insure Your Assets: Once you get your high-value gifts appraised, meet with your personal insurance agent to discuss what your best options are moving forward. You may determine together that you need to insure that family heirloom you plan on gifting to your girlfriend or that new high-tech gear you’re giving to your child before they head off to college. While you cannot replace the sentimental value of a priceless family heirloom, you can protect its financial value.
Be Wary of Theft: Proactively protect yourself and your assets this holiday season and take measures against theft. The holidays see a spike in burglary so be sure to keep your doors and windows locked and your alarm systems on. If you are going to be out of town for the holidays, do not publicize your plans on social media. If a burglar knows your home is unoccupied, your property becomes a much more enticing target.
The holidays should be a joyful time of year filled with love and the spirit of giving. Eliminate the extra stress of worrying about your high-value presents this Christmas and give us a call today. Our Penny Premier Concierge team has the industry insight and experience necessary to help you determine your best insurance option. At Penny Insurance Agency, your peace of mind is our priority. Happy Holidays to you and yours!