Will Your Current Policy Protect Your Holiday Purchases?
It is that wonderful time of year when everyone gets in the spirit of giving, and most consumers spend more than $500 on gifts each year. With that significant amount of money being converted into tangible assets, it is important to make sure your items will be covered by your current insurance policy if they are damaged or stolen.
If your holiday purchases are stolen from your car, they should be covered by your home insurance. If they are taken from your home or damaged or ruined during a flood from a broken pipe or fire, your homeowners or renters insurance will also protect your losses. Good news, right? In part. It is important to also consider that your policy will likely require you to pay your deductible before the reimbursements begin. There are also caps on more expensive items so repayment on purchases like jewelry or expensive home items may be limited.
So how can you make sure all of your investments this holiday season are protected by your current policy? Secure a copy of the appraisal documents for large-ticket items and send them to your coverage provider, asking them to schedule the item. Scheduled items will then be added to your existing policy. Whether you are insuring jewelry or other expensive holiday gifts, scheduling coverage promptly after purchasing will ensure that they are covered before any unfortunate event can take place.
The holidays are an extremely important time to make sure your items are protected as theft is on the rise this month. Make sure you move purchases to the trunk or obscure them if you must leave them in your car, and park in a well-lit area.
To protect your valuables—from holiday gifts to your automobile and home—contact Mike Leonard Insurance Agency. Serving Carrollton, Coppell, and the remainder of this great state of Texas, our Agency looks forward to meeting your insurance needs and exceeding your expectations this holiday season.