Should I Insure My Holiday Presents?

Find out if you should get your gifts insured.

If you received expensive or highly sentimental gifts for the holidays, then you might want to consider getting them covered by insurance.  But how do you know whether or not you should get them insured?  Ask yourself these questions to determine if you should get the extra coverage.

Are my gifts valuable?

As a general rule, you should get insurance for any gift that will be difficult for you to replace if the item is stolen, lost, or damaged.  This means that very expensive gifts and gifts that have a lot of emotional value should probably have insurance coverage.  While insurance money might not be able to replace particularly sentimental gifts, it could provide you with some comfort.

Are my gifts covered under my existing policies?

In many cases, your holiday gifts will be insured under your existing homeowners insurance policy.  However, keep in mind that standard homeowners insurance has a coverage limit.  If the dollar value of your gifts exceed this limit, you will have to purchase additional coverage to get your presents insured.

How can I get insurance?

There are several ways to get your high value presents insured.  In some cases, you can purchase a policy rider on your home insurance to get the coverage you need.  You can also purchase a separate policy to cover the specific items you want to get insured.  Please keep in mind that anytime you get additional coverage, your premiums will increase accordingly.

These are some of the questions you need to ask yourself to decide whether to get your holiday gifts insured.  If you decide that you need the additional coverage, speak to the experts at Duane Weber Insurance, Inc. in Kent, Washington.  Our dedicated team can assist you with all your coverage needs.  Contact us to get started today.