It’s weeks before Christmas and you’ve got your presents sorted. You’ve purchased the latest iPhone, GoPro and a drone as gifts for your loved ones. They’re all wrapped up nicely under the tree, and it gives your home that added touch of Christmas cheer. You head out to a festive gathering only to come home to find your house has been ransacked and all the Christmas presents have vanished.
This is an unfortunate scenario no one wants to endure during Christmas – a time that’s supposed to be jolly and full of glee. So we’ve listed a few helpful tips on how to protect your precious presents and why it’s a good idea to insure your Christmas gifts this silly season.
Protect your investments
Properly insuring those expensive items will protect your investments in the long run. You would protect your home, your car, your pet and your contents, so why not protect the precious gifts you purchase this Christmas? A simple way to avoid thieves from stealing your presents or prized possessions is to add expensive or valuable gifts onto your home or contents insurance. This won’t only insure you’re covered in the worse-case scenario, but it will also give the gift of added security.
And if you don’t have contents insurance, you’re honestly risking the nightmare before Christmas. Theft during the festive season isn’t uncommon. In fact, home break ins increase during the Christmas holidays because of people leaving their houses unattended while they’re away with loved ones. In this day and age, adding valuables such as expensive gifts and costly possessions to your home or contents insurance is an option that will give you the peace of mind you deserve.
Double check warranties or guarantees for insurance
Don’t mistake warranty or guarantees for insurance. Simply ask the sales attendant about the items warranty or guarantees before handing over your cash or credit card. You may find higher priced items – such as electronics or jewellery – have limitations on the cover they offer. For example, some jewellers might propose partial cover to an item, such as replacing stones or diamonds that fall out of a ring or bracelet; or a manufacturer of a Bluetooth portable speaker may include a time limit on warranty from the purchase date, with the option to extend warranty upon purchasing the product. And if this is the case, it may be a good idea to purchased extended warranty as an extra gift for the person you plan on handing the present to on Christmas day.
Get an appraisal
If you plan on spending big on an item this Christmas it wouldn’t hurt to get it appraised. If you’re buying an expensive gift be sure to insure it for its value and not just for the price you paid for it. It’s possible to buy a pricy item on sale at a discounted rate, but if you only insure it for the price you paid, you may be ripping yourself off if you need to replace it later and aren’t able to get it for the same sale price – or worse – the item is discontinued.
Take photos and keep receipts
It’s always handy to keep gift receipts. This way, in the rare case that your loved one needs to exchange the item, they can do so without any fuss. Taking photos of all your newly purchased items is also another great way to ensure you have an additional record of your proof of purchase.