Common question: Does my insurance policy cover my fancy holiday gifts?
In short: Maybe.
As you know, most homeowners’ insurances don’t cover your valuables automatically. The reality could very well be that you need to make a register for your valuables and starting with this holiday season would be a great introduction. Also, there are special limits placed on certain kinds of specialty items, capping coverages. Your policy may not be inclusive of “mysterious disappearances” or other unknown loss situations. Apart from that, your policy has limits that you may find that you quickly reach and are left without coverage for a substantial amount of your possible loss. You also might not be covered if an item is not explicitly listed in your homeowners’ inventory.
Case-in-point: Updating your inventory would probably be a great idea and could be a fun new tradition to do around the end of the year. Making a list and checking it as many times as you’d like, unlike other people. Below is our sample list that you’re more than welcome to use as an example of your “2021 Holiday Insurance Update List”. We know, we’re really spreading the excitement and fun this year, but it’s all about getting your new toys covered.