Tips to Insure Holiday Gifts | M3 Insurance

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Tips to Insure Holiday Gifts

Personal Lines

Winter holidays are coming up quickly, and many people are in the process of buying gifts for their loved ones and friends. Some gifts are small and thoughtful, while others may fall into the “luxury” category. If you plan on giving a pricey gift this holiday season, it’s important to understand whether the item is covered in case of damage or theft.

Will my holiday gifts be covered by insurance?

Expensive gifts like luxury jewelry, artwork, and new vehicle purchases (including recreational vehicles) need to be specifically scheduled on an insurance policy to be covered by insurance.

A quick conversation with your M3 Private Client Group representative will allow you to get a better understanding of what is currently covered under your homeowner’s policy, and how your coverage should be adjusted or increased to account for the new gift.

If you are planning a surprise gift, it’s best to call your insurance representative ahead of time to ensure that your item is covered. Then, on the day you surprise your loved one, your insurance is the last thing you have to think about.

One more thing to note: your coverage may differ depending on the reason for filing an insurance claim. Damage done to the gift because of a fire or other disaster impacting your home will likely trigger different coverage than if your gift is stolen. Your Private Client Group representative can give you a run down on each scenario and the coverage that will apply.

Tips to Protect Your Presents

In addition to speaking with your representative to discuss coverage for new gifts, there are steps that you can take to protect your presents from mishaps like damage and theft. In the long run, taking this quick actions can save you from a tough financial outcome – and the headache that comes along with it.

  • Update your home inventory to include your new asset. Whether it’s a new vehicle, a major technology purchase, or a priceless piece of jewelry, you’ll want to make sure that you’ve made note of it in a secure location.
  • Deter theft by breaking down gift boxes in your trash bin so that it’s less obvious you’ve made recent valuable purchases.
  • Update your delivery preferences with frequently-used services to have packages delivered to a back door or secure spot around your home.

The holiday season is full of exciting opportunities to give gifts to loved ones and friends. If you give or receive a luxury item this year, be sure to contact your M3 Private Client Group Representative to ensure your gift is protected.


Debbie Lukowitz, CPRM, CISR Elite is a Private Client Account Manager II at M3 Insurance. 

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