When your family gets together to celebrate the holiday season, insurance is the last thing you’ll be thinking about.  But, did you know that some expensive gifts — like jewelry, computers, computer games, sports memorabilia, off-road vehicles, and specialty bikes — might not be fully covered by your homeowners or renters policy.

In Massachusetts, most home, condo and renter’s insurance policies limit the amount of coverage for different kinds of specialty items, and it’s amazing how quickly those items can add up and exceed your limits. So, after you’ve unwrapped your gifts and had a chance to try them out, it’s important to:

1. Take a picture of your gift. Having a picture can assist the claims process if your item is lost or stolen.
2. Have the item appraised or keep the receipt in a safe place. Although it might be awkward to ask for the receipt for your gift, it’s important to have this information on-hand in the event of an insurance claim.
3. Review your policy limits. Once you’ve recorded your new stuff in your home inventory (you need one of these), add up the total value for each of the specialty categories outlined in your policy and make sure all of your stuff fits within your limits. Pay close attention to the “Special Limits of Insurance” section of your policy, which is where you’ll see a breakdown of coverage for specific items.
4. Talk to us! If the value of your new gifts puts you over the limit on your policy, we’ll help you with additional coverage to protect your valuables.

Please contact one of our knowledgeable insurance reps by calling us at 800-897-2837. Our phone support hours are Monday – Thursday from 8 am to 8 pm, Friday from 8 am to 6 pm, and Saturday from 9 am to 3 pm. At A-Affordable, we open early and stay late for you!