got an expensive gift for christmas?

Did you get an expensive gift for Christmas?

If it would cause a financial burden to replace it, you should consider insuring the item.

Insurance options depend on several factors including:​

• the kind of gift it is
• the value of the gift

There are various insurance options:

• renters/homeowners insurance - Coverage is limited on the dollar value of the item, doesn't cover the deductible, and may depend on the circumstances of the damage/loss.
• rider/floater insurance - Coverage is for a specific item and may require a formal appraisal of its value
• standalone insurance policies - This usually provides more options than homeowners insurance, especially if the owner doesn't live in your home and may require a formal appraisal
• special coverage - This is for more unique circumstances like the gift appreciating in value over time and will likely require a formal appraisal.
• car insurance - The car owner must have proof of insurance before driving off the lot but the name on the car policy depends on the circumstances.  Definitely check with your insurance agent about how this insurance needs to be secured.

Regardless of the option you choose,

• Check with your local insurance agent about the fine details of coverage options so you choose the best option for your item
• Take photos/videos of your valuable items to document them in the event you need to file a claim for them later.
• Keep purchase documentation/receipts and appraisal documents in a safe place

​Have questions about insuring a gift you received?  I'll be glad to help:  706-726-1446.