Insuring christmas gifts

January 2, 2008 4:47:20 PM PST
If you were lucky enough to get a big screen TV, computer, IPod or jewelry this Christmas you now need to think about protecting it.

Bobby Salmon with Senn Dunn Insurance says big items are typically covered under your homeowners insurance for theft, fire and vandalism, but if that big screen falls off the wall or you drop it, you'll need to add coverage.

He adds, "There are other policies and enhanced homeowners policy that offers broader coverage that you can purchase, and or you can buy a separate writer to your existing policy that broadens your coverage." And you might want to back-up all that music on your IPod. Salmon says, "You can have a $250.00 IPod but with the music that's downloaded on it, it can be a $2,000 to $3,000 piece of equipment that is not covered, that music is not covered."

When it comes to computers, like lap tops find out what your policy covers. Salmon adds, "Under a standard policy, it's covered if it's for personal coverage you're fine for theft and things like that but if using for business as well that can void coverage." If you're lucky enough to get some bling, including watches consider a separate policy from your homeowners if you want full coverage.

And this is a good time to take inventory of what's in your home. In case of a fire of theft, your insurance company will need proof of what you lost. An easy way to do this is take a video camera and walk through your home documenting everything you have. You can also take pictures. Once you have this done, make sure you don't keep this in your home.


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