Presents that require you to review your home insurance.


Whether it has been your birthday or you’ve had a raise at work and celebrated by buying a new gift for the family, you may have a few new presents in your possession. Before you find the gift its own place in the home, it’s important to ask whether or not you should consult your home insurance policy. Certain gifts require more home insurance.


High-value gifts

Items that are expensive and valuable may be wonderful to receive, but you should review your home insurance as soon as possible. In many cases, this high-value item exceeds the contents coverage within your home insurance, meaning that if anything were to happen to the item, you should not receive help to replace or repair it. If this is the case, you can choose to add on coverage to protect these high-value belongings.


If you’re not sure of the value, ask the gift giver for a receipt or take it the item to an appraiser. Common gifts that require additional coverage include:

  • Jewelry
  • Electronics
  • Fine art
  • Musical instruments
  • Golf equipment


High-risk items

Some gifts come with their own risk. If a gift increases the risk of damage or injury on your property, you may need to increase your liability coverage. Some hazardous home features include:

  • Swimming pool
  • Trampoline
  • Hot tub
  • A dog


Receiving a high risk gift will call for a review of your insurance. In some cases, these hazardous home features may result in higher premiums. Visit Tompkins Insurance Agencies for help securing home insurance that suits your needs and budget.