Do not let expensive gifts go uninsured

I’m sure that if you leave Santa Claus is a high-end golf clubs, a diamond ring or a piece of art that you want under the Christmas tree you excited. Now, you need to ensure that the expensive project has passed to ensure its proper protection.

Your standard homeowners or renters policy should include personal property, but it may limit the amount of coverage items, such as jewelry, furs and collectibles $ 1,000 to $ 2,000, according to the Insurance information Institute. In this case, you need a “floating” policy to provide additional coverage and protection of such projects “mysterious disappearance” (ie loss). Floaters even provide protection instruments and sports equipment.

Insurance Information Institute recommends that you take these measures to protect you may have received any abnormal expensive gifts holidays:

Remind your insurance company to find out Do you need extra coverage to protect your new project

– Aask if you have replacement cost or actual cash value of the policy replacement cost policy to pay its current market value instead of the project while the actual cash value policy to pay to replace their value minus depreciation projects. For this reason, the replacement cost coverage is about 10% more than the actual cash value, but the Insurance Information Institute said that this is in the long run, better value.

– Send a receipt a copy to your project to your insurance any compensation so it is to know the current value. Let your receipt in your home inventory file.

– Have evaluated the project If you do not have a receipt or if it is an antique. Ask your insurance company recommended by a reputable appraiser. You float premiums will be based on the appraised value, you will to if something happens to your project to find the money to compensate

Project photo or video and add it to your home inventory. project if a problem occurs, the visual record will help document the loss and speed the claims process. Add photos or videos toYour home inventory. If you do not have a home inventory, to a start together. The Insurance Information Institute free you know what software can help you create a home inventory.