So there was some of that sparkly stuff under the Christmas tree this year. After the glow wears off, you may want to turn to something a little more prosaic.
Is your homeowners insurance up to date, and will it cover the loss of your new bauble? More than half of American homes are underinsured, as we fail to keep up with our acquisitions, with over 20% of the value of our home and ”things” uncovered. Although your coverage may include jewelry, tech stuff, there is a standard cap that will most likely be exceeded should disaster strike. It may be time to add a rider to your policy.
A rider is an addition to your policy that raises the payment from the insurance company if certain items or stolen or destroyed. Count on about a hundred dollars a year extra for this coverage. Before calling your agent, you might want to do an assessment of your belongings to see if their value warrants a rider.