Why should you properly insure those expensive gifts?

It can be easy to overlook the importance of insuring them, according to Dupaco Insurance Services.

And here’s why: Because they’re gifts, and you don’t have any money in them yourself, the value can sneak up on you sometimes and surprise you.

Pricy gifts that can affect your insurance

These more expensive gifts are worth considering protecting with insurance:[/vc_column_text]

But most Dupaco Insurance Services carriers offer the option to add a scheduled property rider to your policy that provides all-risk coverage for listed items—such as jewelry, fine art and firearms—up to their appraised value. The endorsement includes mysterious disappearance.

What you should know about drones

If you buy or receive a drone, how you use it determines whether you need additional insurance.

If it will be used for commercial purposes, like wedding photography, neither a homeowner’s policy nor a commercial policy will respond.

Instead, you need a commercial drone policy to protect your gift.

Is it for personal use? Your homeowner’s policy will cover damage to the drone or liability up to your policy limits in the event it crashes into someone’s property.

But if you are renting and don’t have renters insurance, you don’t have that liability coverage.

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