Even while the holidays are a time for joy and celebration, they bring with them several risks that may have a significant impact on your homeowners insurance coverage. Hence, you need to consider a few things when it comes to protecting your house and your possessions, regardless of whether you’re organizing a big celebration or just decorating your home.
Mentioned below are four potential risk factors that are unique to the holidays and may affect your homeowners insurance.
Risks That Affect Your Homeowners Insurance
Buying and Receiving Expensive Gifts
The thrill of giving our loved ones expensive gifts during the holiday season is priceless. However, you must ensure that you have adequate homeowners insurance coverage if you’re giving or receiving jewelry electronics, or other expensive gifts to safeguard yourself against any possible loss. Buying a personal property endorsement enables you to stay protected if any of your gifts are lost or destroyed. To add a personal property endorsement to your policy in time for the holidays, be sure to speak with your insurance provider.
Celebrating an Engagement
Engagements are common during the festive season, especially with the family around. One of your larger investments may be buying an engagement ring for a special occasion. However, it’s important to protect it with appropriate insurance coverage. Adding a personal property endorsement to your homeowners insurance policy ensures that any theft or damage-related loss will be compensated by your insurance. To assess the worth of your ring for insurance reasons, it’s also crucial to have an evaluation done. By doing so, you can be assured that you have sufficient coverage.
Although eggnog is a favorite Christmas treat, spilling it on your carpet or furniture may be disastrous. It’s critical to evaluate your homeowners insurance coverage to ensure that you are covered for any possible damages caused by unintentional spills. Your insurance will pay for those damages up to your coverage limit. Hence, check with your insurance company to be sure you’re protected if you plan to drink a lot of eggnog during the Christmas season. Also, you are at risk of social host liability if a guest who has been served the alcoholic drink in your home hurts themselves or someone else and they decide to sue you.
One of the greatest concerns during the holidays is fire. Candles and other decorations may quickly ignite a fire if not watched carefully. Review your homeowners insurance coverage to ensure that you are covered in the event of a fire. Additionally, it’s critical to practice fire safety to reduce the risk of any fire-related losses. For this, decorations should be kept away from heat sources, candles shouldn’t be left burning unattended, and smoke alarms should be in good working condition.
Even though the holidays may be hectic, taking the time to evaluate your homeowners insurance coverage will help you ensure that you are protected from the risks that you may face during the holiday season. Also, your insurance will provide you peace of mind this holiday season. To ensure that you are insured, examine your policy and consult with your insurance provider about any added endorsements that you may need to buy for comprehensive coverage.
Consult Family Financials Insurance Group to Cover Your Home This Holiday Season
For more information on how to keep your home safe during the holidays and the coverages you must have in your home insurance, get in touch with our team today. At Family Financials Insurance Group, we will assist you in making sure that your house and possessions are adequately insured. Contact us today to get started!