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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...