The holiday season is upon us and it’s a great time to reflect on how blessed we truly are. Although counting our blessings may be difficult while navigating shopping lists, making holiday cards, and cooking, it’s important to remember those in our lives that make it worth it.
This year, if you are thinking of giving a high price gift, you may need to think about the insurance coverage that goes along with it. From jewelry to high-end artwork, these items are worth looking into special coverage. You deserve that gift, make sure it stays protected.
INSURING YOUR VALUABLES
If you are planning to get your loved one an expensive piece of jewelry, you’ll want to think about the insurance coverage as well. Most homeowner’s insurance policies include personal property coverage; however, items such as artwork and jewelry can come with coverage limitations. Scheduled personal property coverage is an optional add-on to your policy that provides coverage for a greater number of risks and/or may increase the coverage limits on specific high-value belongings such as:
Depending on the age of the item and/or the value, you will typically need to provide a recent receipt or a professional appraisal for the item(s) being scheduled.