Recycled paper gift box

The holidays have wrapped up and we are left with the magic feelings and warmth of the season, while stepping into the exciting new decade!
About 42 million households gave or received high-tech gifts and electronics according to a national survey by Trusted Choice and Independent Insurance Agents & Brokers of America. Some folks incorrectly assume that any owned item is automatically insured on their condo, renters or home policy.

Which Items Are Covered?

Did you receive a smart speaker, air purifier, laptop, massage gun, engagement ring, or Peloton? Some of these items may fall under the general coverage for your personal property on a standard home policy. However, other items have a capped value and may only be covered up to a certain monetary amount. Generally, policies treat gift cards the same as cash no matter how many cards lost.

What Isn’t Covered By Insurance?

The most common covered perils for personal property are fire, windstorm, vandalism, and theft from your residence after a break-in. In addition to some monetary caps, coverage exclusions may include shipped gifts, digitally download data, electrical power surge, business use, flood, earthquake, and some other specific disasters or circumstances.

Special Item Coverage

Scheduled personal property is sometimes referred to as a rider which is an “all risk” style of coverage available for special items such as jewelry, musical instruments, antiques, golf clubs, fine art, laptops, and other valuable special property.

Are You Covered?

Contact your local Britton and Britton Insurance agent to review your home insurance needs and provide a quote for those important things or to check if they are already included.

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