An Ounce Of Prevention Is Better Than A Pound Of Sorrow
1. Antique Jewelry, Fine Jewelry, and Jewelry Gifts: Unfortunately, many people who have antique jewelry and fine jewelry do not insure it properly, and a big segment of uninsured jewelry is jewelry gifts. It can often be an overlooked insurance until the jewelry is lost or stolen. Jewelry is added on to the homeowner’s insurance policy as scheduled property.
2. Extremely Hazardous Events: Some events are very hazardous that the insurance company would have to charge a much larger premium for the property insurance policy. These events, such as earthquakes, floods, and mudslides are usually not covered under a standard property insurance policy but can be added on if an insured would like the extra coverage.
3. Weddings: Wedding insurance is still a new concept for most but is being added to more wedding plans as the expense of weddings is rising. It is not uncommon to hear about couples doing wedding planning for 20 and 30 thousand dollar weddings. Unfortunately, not enough couples are considering wedding insurance when doing their wedding planning.
4. Computer and Laptop Insurance: There are companies that sell insurance specifically for computers and laptops. Before purchasing an extra policy through a company, one needs to make sure that their computer or laptop is not already covered under one of their current insurance policies. Sometimes people think that if they have extra insurance policies they get to use all of them if something happens, which is not true. So if one is paying extra for the same coverage elsewhere, they are just paying more for nothing.
5. Umbrella Insurance: Today, lawsuits are everywhere. Lawyers are awarding larger amounts of money than ever. Homeowners, auto, and watercraft insurance policies have a limit on liability insurance. If an unfortunate accident should happen many may not have enough liability insurance from their current policies to cover their costs for negligence. Since no one can predict how much a judge may award the injured person, umbrella insurance is not just for the wealthy anymore, but a needed protection for every policyholder.
