The answer is maybe.
NEW CAR- first, congratulations! Most insurance policies will cover your replacement vehicle for 30 days. Please call your agent the day you purchase your new car to add it to your insurance. Even better, call in advance of purchasing the vehicle to check the cost difference of the new car compared to your current vehicle. Have these answers ready about your new vehicle: what is the year, make, model and VIN? If there is a lienholder, who? Is it a leased? Who will be driving this vehicle? What name is on the title (who owns it)?
JEWELRY- most jewelry is not automatically covered on your homeowner’s policy. Please submit the appraisal or the receipt to your insurance agent to add the most comprehensive coverage including theft on or off of your property, if you lose it or if a stone falls out. Many people don’t realize their wedding rings and expensive watches are usually not atomically covered on your property policy. Please review with your agent so you have peace of mind to make sure your items are properly covered.
ELECTRONICS- Are these items for personal use or business? If personal use, then they will usually be automatically covered on your property policy- renters, condo, home or mobile home- policy. There is a limit for contents coverage. Check to verify the amount of the total coverage for your contents. Will that amount cover your clothes, furniture, electronics and all your personal items? If not, call your insurance agent and discuss increasing your content coverage on your property policy.
(NOTE: make sure you have replacement cost (RC) cost on your contents rather than actual cash value (ACV) which only gives you the depreciated amount in case of a loss.)
CLOTHES, PURSES, SHOES- These items are covered similar to electronics. Make sure you have replacement cost (RC) for all your contents and there is plenty of coverage on your policy to repurchase every item you own.
LIFE CHANGES are the reason you review your insurance. If you move, have a baby, get married, get divorced or if there is a death in your immediate family, please call your insurance agent and either review all your insurance by phone or in person to make sure there are no gaps or overlaps in coverage.
HAPPY NEW YEAR!
Julie Jakubek, MBA 4650 E Thomas Rd Phoenix, AZ 85018 480-949-5670 www.JulieJakubek.com