The Scott Godwin Agency Discusses Big Ticket Gifts

Do you have something under the tree that is quite expensive for your loved one, your children or the entire family to enjoy? It could be anything from diamond earrings to a new television and you might be inclined to believe that your renters insurance or homeowners insurance would cover those items in case something should happen to them, but you might be wrong! In these cases, it all depends on your homeowners or renters insurance policy. The Drew Ritchie Agency explains that the main insurance policies don’t always cover everything due to caps on the policy. You don’t want to be fooled into thinking you have coverage for those big ticket items when, in fact, you don’t.

Our OKC insurance agent knows that with a lot of big ticket items you are often offered extended warranty plans if those items become damaged, but it may still be good a idea to have your beloved Christmas gifts insured if you need a total replacement. Getting items insured gives more coverage for different types of loss, beyond theft or damage. Here are a two common options to getting the coverage you want through your local OKC insurance agent:

1.) Increase your coverage limit
2.) Purchase a personal article floater

Deciding which Christmas gifts to insure is totally up to you. While the item in question doesn’t have to be the most expensive to have insurance coverage, a lot of people focus on getting extra coverage for items such as these:

1.) Jewelry
2.) Record collections (vinyl)
3.) Silverware
4.) Artwork
5.) Coin collections
6.) Cameras
7.) Musical equipment
8.) Expensive clothing and furs

It is important to note that some items may not qualify for extra insurance coverage. If you have purchased Christmas gifts that you would like to insure, please contact someone from The Drew Ritchie Agency to discuss options and learn which items can be insured. Someone from our OKC insurance agent team would be more than happy to sit down with you, discuss the options for updating your insurance policy or getting extra coverage for those special Christmas gifts.