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Do you need insurance coverage for the presents you received this holiday?

The holidays have come and gone, but the presents you received remain.  If you received expensive or highly sentimental gifts over the holidays, then you want to protect these items to the best of your ability.  That’s why you should consider getting your gifts insured.  Consider this information about insuring your holiday presents.

Do I need insurance?

If you received anything that will be difficult for you to replace, you should consider getting these items insured.  For instance, if you received something expensive such as a new gaming system or a new laptop, insurance would help you replace these items if they are damaged, stolen, or lost.  Additionally, if your received something that has a lot of sentimental value, you should get insurance for this item as well.  While the coverage won’t replace the meaning behind your gift, the compensation you will receive if the item is damaged, lost, or stolen will provide some comfort to you.

How do I get coverage?

While your standard homeowners insurance does provide coverage for your personal belongings, this coverage only covers items up to a certain dollar amount.  If the value of your presents exceeds your coverage limits, you will have to get a separate policy for these items.  Oftentimes, you can add a policy rider to your homeowners policy that will provide the additional coverage that you need.

Is insurance worth it?

This is ultimately a personal decision.  Keep in mind that getting coverage for expensive gifts will mean increased insurance premiums.  If you can comfortably afford these increased rates, insurance is recommended.  However, if you feel that you cannot afford the cost, you must be prepared to accept the cost of replacing the item on your own.

These are some of the considerations you should make as you decide whether to insure your holiday gifts.  If you decide that insurance is worth it for you, turn to the experts at Scavone Insurance in White Plains, New York.  Our knowledgeable professionals are ready to get you the coverage you need.  Contact us to get started today.

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