Planning that Special Holiday Gift? Make Sure it’s Protected With the Right Kind of Coverage
As the holiday season nears, many people are planning to give their loved ones special gifts, often with a high price tag. Items like Trek bikes, fancy jewelry, luxury watches, or even a collectible art piece. As the anticipation builds and the Christmas or Hanukkah holiday nears, most people don’t even think that their gifts could one day be stolen from their home. The sad reality is there’s nothing you can do if you don't have a special policy protecting the high-value gifts you give to your family members.
At Galezano Insurance, We’ve seen this happen too many times, and we don’t want it to happen to you.
How Can You Ensure Your High-Value Gifts Are Protected?
Make sure your policy includes your high-ticket gift items in case your home is burglarized, or the items are stolen when you’re away from home. That way, you can replace them and not be out all the money it cost to purchase them.
Here Are Some Examples of Items That Are Good to Get Special Coverage For:
• Diamond, precious metal, and precious stone rings, earrings, pendants, and bracelets
• Luxury watches like Rolex, Omega, Montblanc, etc.
• Trek bikes
• Collectible items like high-end antiques, rare coins, and even rare and expensive stamp sets and series
• Luxury and rare art pieces
• Fine wine collections
Another thing to keep in mind—If the item is valued above $5,000, it’s a good idea to have it appraised and get documentation of its value.
Though you might not be giving them as a gift for the holidays, If you own handguns, make sure to lock them up in a high-quality safe. Not only will this prevent them from being stolen, but it will add an extra measure of protection to your family by preventing a tragic accidental shooting. You can also store important documents, and other valuables inside a gun safe.
How common are home burglaries? The FBI reported 1,117,696 home burglaries in 2019. The most common type of home breakin was through forcible entry, and caused a nationwide loss of approximately 3.0 billion in property loss. Chances are that the majority of that loss was not covered by special insurance protection plans.
Are you planning to give your loved one a high-value gift this year?
Your homeowners insurance may not be enough to cover expensive items and high-cost personal possessions.