Protecting Your High Value Christmas Gifts

Protecting Your High Value Christmas Gifts

The holiday season is well-known for sweet treats and shiny objects. But those gift wrapped goodies can attract the wrong type of attention.  Protecting your purchases before and after the holiday can provide the peace of mind you need.

Cars are a common target for opportunistic thieves. If you are the victim of gifts stolen from your car, you may have coverage through your renters, condo or home insurance. If the thief damaged your car while breaking in, such as busting a window or locks, you could make a claim under the comprehensive insurance portion of your auto policy. This claim would also have a deductible, separate from the home insurance deductible for the stolen gifts.

Thieves could also target gifts in a home, especially if they know there’s new merchandise. Your home insurance will cover the theft of personal property, which coudl include package theft from your porch. You’ll likely need to prove that your package was delivered and stolen. Your Home insurance deductible would apply to any claim.

Here are a few proactive things you can do to help soften the blow of stolen gifts.

  • Schedule valuable items. If someone in your household receives a high-value gift, like an expensive piece of jewelry, artwork, collectible or musical instrument, it’s a good idea to “schedule” it. That’s because most home insurance policies have sub-limits on stolen items.
  • Update your home inventory. A good home inventory lists all of your items and their estimated value.
  • Add personal cyber insurance to your policy. Depending on your insurance company, you may be able to add personal cyber insurance as an endorsement to your home, renters or condo insurance.

Contact Professional Underwriters to discuss your options.

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