![]() CHRISTMAS GIFT INSURANCEĭamage to gifts purchased which you haven’t even had a chance to exchange with family and friends on Christmas Day? Your personal property will cover this loss, dependent on policy limits and subject to a deductible. If you have more than the basics it’s a good suggestion to review with your insurance agent and provide a list to be kept on file. ![]() Your homeowner insurance policy includes coverage for musical instruments for personal use under your personal property (contents coverage). Coin collections may also be categorized separately. Stamps and philatelic property (such as stamp collections) are also covered but may have limits separate than your other collectables. ![]() Your policy includes coverage and limits for a variety of collectables, including sports cards, sports memorabilia, and comic book collections. Check policy limits and schedule it separately if necessary. Have a pricey watch? It would be treated the same as any other jewelry you may own. This category often includes watches, gems, fur garments and garments trimmed with fur. It is most often recommended that high-value items or large jewelry collections be appraised and insured under a separate rider listed on your insurance policy. Your policy likely has a personal property limit which applies to your jewelry. If you golf local, your policy most likely also includes coverage for a personally owned golf cart when used for golf purposes or stored in your garage. Your golf clubs would typically be covered under your homeowner’s personal property for anywhere in the world you may travel with them. Discuss all watercraft needs with your insurance representative, including sailboats or personal watercraft items such as sea-doos and jet skis. Need more boat insurance than a homeowner policy can provide? A separate boat insurance quote can be considered for those which exceed your policy limits. For those which exceed the basics, we can list all related watercraft coverage to ensure it’s fully protected (there are some limitations in regards to the length of the watercraft, the speed or horsepower and of course the value). Your boat or watercraft may automatically be included in your insurance policy contents (depending on the value and horsepower of the motor). Check with your insurance provider to be sure! An additional premium is typically charged to list items on a separate rider to reduce or eliminate a deductible being applied. In many cases, your deductible of $1000 or greater could greatly impact the decision to claim against a loss. It’s also important to consider and discuss your policy deductible. We recommend that you review your policy coverage annually, never hesitate to ask about unique or high-value items you own to ensure they are covered under policy limits or if additional coverage can be purchased which offers the right protection for you. Note: Although most coverage under a homeowner insurance policy is fairly standard within the industry it is important to note that limits and exclusions can vary. Wondering if it’s covered? Check our handy list below. We are often asked if certain possessions are covered under a members’ home insurance policy and we noticed that several common items were asked about most often.
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