The holiday season is here, and many of us are busy picking out the perfect holiday gifts for our loved ones. Whether it’s a dazzling piece of jewelry, cutting-edge electronics, or a one-of-a-kind piece of art, giving a meaningful gift is one of the joys of the season. However, while you focus on finding something special, don’t forget a crucial step: insuring valuable holiday gifts.
Shoppers in the U.S. spend over $20 billion on jewelry during the holidays, and electronics—another popular gift category—account for about $19 billion in spending. With items like these topping wish lists, it’s essential to protect your investment from theft, loss, or damage. Here’s how to do it:
High-value items often require extra care, so here are a few tips to ensure your holiday treasures are safeguarded:
- Document the Purchase
Keep all purchase receipts and take photos of your gift from multiple angles. These records make it much easier to file an insurance claim. Detailed documentation also speeds up claims by up to 50%, so it’s worth taking the time to do it right. - Get an Appraisal
Hire a certified appraiser to evaluate high-value items like fine jewelry or artwork. Fun fact: More than 50% of Americans underestimate the value of their jewelry, leaving them underinsured. - Review Your Insurance Policy
Check your policy to see how it covers high-value items. Most homeowners’ policies cap jewelry coverage at $1,500-$2,000, which may not be enough. If you’re unsure about your coverage, reach out to me. Together, we can review your policy and decide if you need additional protection, like a personal articles policy. - Keep Your Insurance Agent in the Loop
Anytime you bring a high-value item into your home, let your insurance agent know. I can help update your policy or guide you toward the best coverage options. Keeping me in the loop ensures you’re prepared, especially since thefts increase by 25% during December. - Store Gifts Securely
Keep gifts in a secure location before giving them. Use a home safe, lockbox, or another secure storage area to protect them from theft, fire, or accidental damage. With around 40% of holiday thefts occurring at home, secure storage is a must.
By following these steps, you’ll safeguard your valuable holiday gifts and enjoy greater peace of mind. If you have questions about insuring high-value items, contact us today—we’re here to help you protect what matters most.
Wishing you and your family a safe, joyous holiday season filled with memorable moments and meaningful gifts!