We have all seen the television commercials of the couple walking out to the driveway on Christmas morning to reveal the new car in the driveway... Though 99% of us will never share this experience it's important to make sure that your new goodies from Santa or loved ones are covered on your insurance policies.
Say you happen to be on the EXTREMELY Nice List and get that new car in the driveway... Most auto insurance policies provide coverage for new purchases for 30 days. You should notify your agent of the purchase as soon as possible, but you should be fine to take that new car for a spin (just take the bow off first please).
Other major purchases such as fine jewelry, watches, and arts should be scheduled on your homeowner policy as soon as possible. Most homeowner policies provide limited coverage for these items especially for theft and mysterious disappearance. By scheduling them on your policy you can get the appropriate coverage with often a small or no deductible! This is called Scheduled Personal Property. It may cost a small premium to add items, but the coverage is more comprehensive and the peace of mind is priceless.
Say Santa does not happen to use the chimney and leaves some packages on your doorstep... Be sure you keep your receipts and online purchase statements. There has been an increase of package theft at doorsteps this season. It is good to leave Santa or other delivery elves a note with instructions on where to leave packages or not to leave them in your absence. Here's a video on preventative steps to avoid package pillaging. Most homeowner policies carry a $500 or $1,000 deductible, so you don't want a nuisance theft like this to spoil Christmas.
Have a Happy Holiday and call us if you are one of the lucky ones that needs an insurance adjustment on December 26th!