Could Your Gift Cause Someone to Alter Their Home Insurance?


Has it been your birthday recently? Perhaps you got a promotion at work and celebrate by buying a new gift for the family. Either way, you may have new items on your property. But before you find gift their own place in the home, it’s important to ask whether or not you should consult your home insurance policy. Certain gifts require homeowners to take a closer look at their home insurance policy.


High-value items

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 gifts

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


When you’re looking for homeowners insurance, contact your insurance professionals at Kneller Agency. Our dedicated experts are ready to assist you with all your home insurance needs. 

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