Don’t Forget To Insure High-Value Items
The holiday season is a joyful time for giving and sharing, as families and friends exchange gifts large and small. Whether you’re planning to surprise a loved one with a sparkling diamond ring, a brand-new golf cart, or another significant present, giving that perfect gift brings plenty of excitement and satisfaction. But before you wrap it up and tuck it under the tree (or in the yard), there’s one important step you shouldn’t overlook: making sure your valuable gift is fully protected with the proper insurance coverage.
Why Insure Holiday Gifts?
Gifts like fine jewelry, luxury electronics, sporting equipment, or vehicles often represent a sizable investment. While the thought behind any gift is priceless, losing or damaging a high-value item can be disappointing and costly. That’s why reviewing your insurance coverage beforehand is so important.
If you purchase a valuable item, your standard homeowners or renters insurance policy may not fully cover it—especially for specific categories like jewelry, art, or vehicles. Taking a few minutes to make sure your gifts are properly insured can help safeguard your investment, granting both you and your loved one greater peace of mind.
What Gifts Should Be Insured?
While a pair of slippers or a festive mug might not require special attention, consider insurance for:
Fine jewelry, such as engagement rings or watches
Electronics—laptops, tablets, cameras, or home theater equipment
Vehicles, from golf carts and ATVs to motorcycles
Artwork or collectibles
High-end sporting goods, instruments, or items that exceed your deductible
How to Ensure Your Gift Is Protected
Contact Your Insurance Agent: Before giving the gift, reach out to your insurance professional to discuss the best way to protect the item. They can advise on whether your current policy provides sufficient coverage or if a separate policy (or rider) is needed.
Document the Item: Keep receipts, appraisals, and photos of the item. This documentation is invaluable if you ever need to file a claim.
Update or Add Coverage: Work with your agent to update your policy or add specific protection for high-value items as needed—preferably before the gift changes hands.
Give the Gift of Security
The gift itself will surely delight your loved one, but giving it with the added security of proper insurance coverage is a thoughtful extra touch. It means they can use and enjoy their present without worry, knowing that it’s protected from many of life’s unexpected events. If you're finishing up your holiday shopping and have questions about insuring special items, don’t hesitate to reach out. Our team is here to help you prepare so that both you and your loved ones can have a safe, joy-filled holiday season.
