4 Ways the Holidays Can Impact Your Homeowners’ Insurance

Home is where most people have their best holiday memories. Being home for the holidays can also impact other areas of your life. Homeowners sometimes forget the holiday effect on insurance coverage. For some, nothing changes at all. However, there are times when the holiday can bring some very unexpected, and sometimes, unwanted changes. Some such unexpected changes are discussed in this post.

  • High-End Presents

  • Christmas is the time for giving and many people, especially grandparents, tend to give a little too much. Large televisions, gaming systems, and other expensive items may mean that your current coverage is no longer sufficient. If you or your children received a lot of high-end presents, you would want to schedule an appointment with your insurance agent to adjust your coverage. Before calling your agent, you will want to add any new items to your home’s inventory list. If you have a video inventory, you may want to take a few photographs of each item.

  • Engagement Rings, Surprise Gifts, and Other Expensive Jewelry

  • The holidays are the perfect time for surprises. Engagement rings, mothers’ rings, bracelets, and diamond pendant/earrings sets are common gifts. Getting engaged is one of the most special times in a couple’s life. Getting engaged during the holidays makes it twice as special. Being able to share the moment with family makes it possible for everyone to take part in the festivities. You will also want to share with your insurance agent that you may include a new member of the family.

  • Social Gatherings and Eggnog

  • If you are planning on hosting a social gathering of any kind, you will want to be aware of the social host liability laws for your state, if there are any. This means that if someone has too much alcohol to drink and ends up hurting themselves or others after they leave your home, there is a good chance you may be liable. If you are serving alcohol at your party, you may want to reduce your liability risk by offering rides home or allowing your drinking guests to spend the night.

  • Fires

  • One of the biggest things that can have an effect on your holiday is fire. Whether you use a fireplace, space heater, outdoor grill, or burn candles inside your home, the risk of fire steadily increases. It’s important to always monitor any open flame that you have lit in your home. The best way to reduce your risk of an accidental fire is to keep a close eye on common fire hazards, including your stove, your fireplace, and every candle in between.

    Before you get too far into the season, take a few minutes and remember the holiday effect on your insurance coverage. Being properly prepared before the holidays will help you reduce the risk of any events that may disrupt your holiday festivities. Call our insurance professionals at J. Archer Insurance Group and talk to them about any other precautions you may be able to take to lower your risk even further.

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