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Gifts That Could Affect Someone’s Insurance

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Gifts That Could Affect Someone’s Insurance

High-Value and High-Risk Gifts

 

Some gifts are more valuable than others. Whether it’s been your birthday recently or you’ve been treated to a gift by a loved one just because, you may find that you have new items in the household. But before you enjoy the gifts, keep in mind that some presents can impact your homeowners insurance in Calimesa, CA.

 

High-value gifts

Items that are expensive and valuable may be wonderful to receive, but you should review your home insurance as soon as possible. In many cases, this high-value item exceeds the contents coverage within your home insurance, meaning that if anything were to happen to the item, you should not receive help to replace or repair it. If this is the case, you can choose to add on coverage to protect these high-value belongings.

 

If you’re not sure of the value, ask the gift giver for a receipt or take it the item to an appraiser. Common gifts that require additional coverage include:

  • Jewelry – rings, watches, necklaces, etc.
  • Fine art
  • Musical instruments
  • Golf equipment

 

High-risk items

Some gifts come with their own risk. If a gift increases the risk of damage or injury on your property, you may need to increase your liability coverage. Some hazardous home features include:

  • Swimming pool
  • Firearms
  • Trampoline
  • Hot tub
  • A dog

 

Talk to your home insurance agent today to learn more about how to protect your precious belongings with coverage. For all of your homeowners insurance needs, talk to the professionals at Little & Sons Insurance Services, serving Banning and neighboring cities in California.

 

TheSph3r3

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