Do Your Holiday Presents Need Insurance?

Do Your Holiday Presents Need Insurance?

Should you insure your holiday gifts?

Did you receive something extravagant or truly meaningful this holiday season?  If you did, you might want to consider getting these special items insured.  If you aren’t sure whether you should get your gifts insured or not, ask yourself these questions to help you decide.

Is the item easily replaceable?

If you received an expensive gift that will be difficult for you to replace if it is damaged or stolen, then you should consider getting this item insured.  Additionally, if you received a deeply sentimental gift that is irreplaceable to you, you might want to get this covered as well.  While money won’t replace your meaningful items, it could provide some comfort to you if they are damaged or stolen.

Do your current policies cover it?

Depending on the type of gift you received, your existing insurance policies might actually cover your present.  A lot of times, existing home, auto, or umbrella policies actually cover the gifts you receive.  However, be aware that if a gift’s value exceeds your coverage limits, you’ll probably need to take out an extra policy to ensure that the item is fully covered.

Is it worth the cost?

Finally, you have to decide whether or not the item is worth the extra insurance costs.  Adding an expensive item to your insurance will naturally raise your premium.  Additionally, if you have a very expensive item, then you might need to get a whole new policy just for the item in question.

These are a few questions you should ask yourself to help you decide whether to insure your holiday gifts or not.  If you decide that your presents need insurance, contact the insurance experts at Desert Empire Insurance.  Our dedicated team is ready to get you the coverage you need today.