JACKSON, Miss. (WJTV) – Mississippi Insurance Commissioner Mike Chaney encouraged neighbors to know what their insurance will cover as they prepare for the holidays.
Neighbors are asked to call their insurance agent to review their policies, especially if they’re receiving expensive jewelry, art and other high-end items as a gift. They can update their home inventory to include gifts such as televisions, cameras and electronics.
Here are some tips:
- Make sure you have documentation of these items and notify your agent if you think additional overage may be required.
- A home inventory checklist can be found on the MID website.
- Don’t forget to add new furniture you may have purchased during the year.
- Keep a copy of your checklist online, on your phone, or give a duplicate copy to a trusted friend or attorney.
Keep your home and valuables safe:
- Make sure gifts aren’t visible from outside.
- Be careful about disposing of packages and boxes for new items.
- Make sure your home is well lit and put your lights on a timer.
But, what if your presents are stolen from under the Christmas tree in your living room?
- Standard homeowners insurance policies provide coverage subject to the deductible and special sublimits for certain goods, such as electronics and jewelry.
- For example, if the wrapped package was a $300 gift card to an electronics store, there might only be $200 coverage; if the package contained $2,000 worth of jewelry or furs, there might only be $1,500 coverage.
- Standard condominium and renter’s insurance policies provide similar coverage. Check your homeowners policy for specific sublimits.
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