Did you know that if you purchased all the gifts mentioned in the “12 Days of Christmas” song this year, according to the PNC Christmas Price Index, the holiday gifts would cost a total of $34,363.49?! That’s quite the price tag! Now, I’m pretty sure many of those gifts listed in the song probably didn’t make it to the top of your Christmas wish list, but did you know a lot of the gifts you did receive may not be covered on your existing renter’s or homeowner’s policy?
What if you finally get that new puppy? Something you may want to review with your agent is the type of breed/dog you intend on purchasing. The reason for this is because most home insurance carriers have underwriting guidelines which state that they do not want to insure properties with certain types of dog breeds. Keeping your agent in the loop in situations like this will allow you to rest easy knowing that you are getting the best, most accurate coverage.This also ensures that you will be properly protected if a loss arises. If you already have the dog in your possession, the benefit of listing the dog on your policy is that there may be liability extended in the case that the dog happens to bite or injure someone, allowing for liability coverage to be extended from your homeowner’s policy.
Jewelry is another big item on top of many people’s lists.This is especially true for those who become engaged during the holiday season. The standard unendorsed property policy provides very limited coverage and caps the amount that can be paid out on a loss to jewelry. The best thing to do in this situation is to reach out to your agent to discuss the process and the premium that it would cost in order to add this type of item onto your policy. Your agent may request that you get those rings appraised and provide it to them so that they may schedule the items onto your policy. The same principal applies for any Valentines Day shiny gifts or fur coats, collectibles, antiques and some computer and camera equipment that you might receive as well.
All in all, if you happen to be blessed with a wonderful gift during this holiday season and want to verify if there is coverage for this item or want to inquire about getting coverage for this item, you may want to contact your local FBinsure agent to discuss all of the options available to you.