Two Holidays in the Same Week

February 14, 2015 at 9:00 AM | Posted in Auto, Holidays, Home, Insurance Policy, Personal Insurance | Leave a comment
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Valentine’s Day carries the tradition of showing loved ones how much they mean to us. On President’s Day, we remember all U.S. presidents past and present. It’s not often that we have two holidays in the same week like we do this year, and both of these holidays are popularly known for people making unique, and valuable, purchases; jewelry for Valentine’s Day and vehicles for President’s Day.

Whether you are giving or receiving, we want to help you make sure that your special, and expensive, gifts or purchases are adequately insured. Here are a few suggestions:

  • Jewelry – Jewelry can be a fun gift to pick out or receive, and may even end up being passed down in your family through generations. We want to help keep something of such monetary and sentimental value in your possession. Your Homeowner policy has limitations on the types of losses that are covered and on the amount of coverage provided for jewelry. Consider adding a rider to your policy such as a “Scheduled Personal Property Endorsement” or a “Blanket Endorsement.” Both of these endorsements provide coverage for all types of losses and they do not have a deductible. You can also purchase the right amount of coverage that you need for your jewelry by having an appraisal or receipt for each item.

 

  • Vehicles – Purchasing a car is not only an expense financially, but also physically; it takes time, consideration, and planning. One thing to consider when purchasing a car: as soon as you drive your brand new vehicle off of the dealer’s lot, its value starts to depreciate. If your vehicle happens to get totalled within the first few years of ownership, you could end up owing more on the loan than the vehicle is worth. To avoid out-of-pocket expenses to make up the difference, you should have GAP coverage added to your Auto insurance policy at the time you insure the vehicle. The cost for this coverage is usually not more than $50, and can prove to be a valuable decision.

After this week’s holidays, whether you acquire a new item of jewelry, start your week off driving a new car, or decide you would like to look into further insurance options for your possessions, we want to help you insure the safety and value of each. If you have any questions about the policies stated above, or your existing policies, please contact us at 888-850-9400.

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