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Christmas Insurance: Holiday Survival Guide

Christmas Insurance: Holiday Survival Guide

We know that with the holidays coming up, the last thing on your mind is insurance. However, the season of gift-giving can bring about changes in your financial picture that you may need to account for when it comes to your homeowners, renters, auto and other insurance policies.

Is there such a thing as Christmas Insurance? Technically, no, but there are ways to make sure your current insurance covers you before, during and after the holidays.

Is It Insured?

Most holiday gifts will actually increase the value of contents in your home. If you purchase or receive electronics, jewelry, firearms, gaming systems, antiques or collectibles, you should consider the impact on your insurable bottom line. Check your policy or contact your broker to determine if you should increase your contents limit or any sublimits for these new items.

If you were lucky enough to give or receive a vehicle this holiday season, don’t forget to check your auto insurance policy. Some policies may extend coverages to new vehicles for only a few days so you will need to contact your broker to add coverage as soon as possible. If your newly minted driver received a vehicle, both vehicle and driver should be added.

Unusual items such as drones, golf carts or boats may not have insurance automatically extended to them by any policy. Your broker should be consulted to deterwmine whether coverage exists or needs to be purchased separately for these items.

Thwart Thieves

In early January 2015, a Florida resident returned home from an outing to find a strange vehicle pulling out of her driveway. Her front door was standing wide open and the house was in disarray: the home had been burglarized.

It is a common occurrence around the country around the beginning of the year. Thieves target homes where there are signs of Christmas cheer but no occupants. How can you keep them from targeting you?

  • If you have an alarm system, use it. If not, now is the time to think about having one installed. Often your homeowners policy will offer a discount to policyholders who have an installed, monitored, functioning burglar alarm system.
  • Don’t advertise your Christmas presents. Boxes that held high ticket items should be disassembled and discarded in the proper bins, being certain to obscure any identifying information.
  • Take decorations down in a timely manner. Those holiday decorations make your home stand out to passers-by and thieves alike. Getting back to normal as soon as possible after the holidays will keep your home from becoming a target.

Should your home be burglarized, call 911 as soon as possible to report the break-in. Your next call should be to the claims number listed on your insurance policy, or to your local insurance broker.

Hayes Brokers wishes you and yours a happy and joyous holiday season. If the unthinkable happen, we will be here for you.

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