Protect Your Gifts

Whether it’s a high-tech laptop, a 65-inch flat screen TV, or even an engagement ring, it’s important to make sure your new possessions are covered by your insurance should they be damaged or stolen. Personal possessions are generally covered under standard homeowners and renters insurance policies, though there may be a limit on the amount covered for theft of items such as jewelry. This coverage is typically limited to $1,000 to $2,000. Other items may actually exceed the limits of your homeowners policy. To make sure all of those items are covered, adding endorsements, or floater coverage, to your policy could help ensure financial protection. Endorsements are available as an addition to homeowners and renters insurance policies and carry no deductibles. There are a variety of items that can be covered by endorsements. Although your unique valuables may not be able to be replaced with identical items, endorsements give you peace of mind that you will at least be compensated for their loss (subject to policy requirements), potentially saving you money in the long term.

Endorsements can add extra protection for the types of items listed below. 

• Jewelry
• Professional cameras, projection machines, films, and related articles or equipment
• Musical Instruments and related articles of equipment
• Golf clubs, golf clothing, and golf equipment
• Fine arts
• Firearms

If you receive any of these items this holiday season, try to obtain a copy of the store receipt or the appraised value of the item to keep for your records. Also be sure to add the item to your home inventory. Finally, talk with a AAA Insurance Agent to see which endorsements are offered in your area and talk about your existing policy to learn what coverage is best for you. 

The content of this article is for informational purposes only. AAA does not guarantee any particular outcome.