Here’s how you can insure valuable holiday gifts.
Now that it’s holiday season, you’re sure to be receiving many gifts from your loved ones. However, if you receive particularly expensive or valuable gifts, it’s important that they are insured. Not sure how to secure the coverage you need for your holiday presents? Here are some of the steps you should take.
Contact Your Insurance Agent
If you have homeowners or renters insurance, your policy offers personal property coverage. However, this coverage is subject to certain limits. If the value of your holiday gifts exceeds your policy’s coverage limits, they will not receive coverage. To determine exactly what your policy will cover, speak to your insurance agent.
Schedule an Appraisal
If it turns out that your homeowners or renters insurance will not offer you the coverage that you need, you need to schedule an appraisal for your holiday gifts. During your appraisal, a professional will determine exactly how much your items are worth. Having your gifts appraised will help you determine how much additional coverage you will need to secure.
Secure Additional Coverage
When it comes time to insure your gifts, you have some options. For instance, you can add an endorsement to your existing homeowners or renters policy. This is convenient because all your coverages will be in one place. However, if you need to secure a larger amount of coverage, you may want to consider securing a new policy for your gifts. Having a separate policy will offer you more flexible coverage options than a policy endorsement will.
These are the steps you need to take when securing coverage for your valuable holiday gifts. Do you have additional questions regarding your personal property, renters, or homeowners insurance? If so, contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California. We are ready to assist you with all your coverage needs today.