If you’re giving and getting gifts this holiday season, think about protecting the gifts. Americans spend handsomely during the holidays. The U.S. Department of Commerce estimated that U.S. retail sales for the fourth quarter of 2007 were more than $1 trillion.
Trusted Choice® insurance professionals suggest you to take stock of what you own – and how it’s insured – soon after you finish unwrapping the Christmas gifts.
Most consumers protect what they own with homeowners or renters insurance. Homeowners insurance covers personal property for a percentage of the insured value of the home. For instance, a $300,000 home might have its possessions insured for 50 percent of that amount. While $150,000 might seem like a large number, the value of clothing, electronics, furniture and kitchen appliances in the home adds up. Homeowners coverage will reimburse a consumer if those items are damaged by fire or stolen.