4142 South Demaree Street
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Are You Keeping Your New Gifts Safe and Insured?
Valentine’s Day often means flowers, chocolates and a nice dinner at home or out on the town. It also sometimes means the purchase of expensive jewelry, electronics or other items. Here are five tips to keep those new gifts protected.
Don’t store gifts in a car. If your car is broken into, your insurance may cover the damage to your car but not the loss of the gifts inside. Once you are home, bring the gifts inside right away. Don’t leave them in your car.
If you must store gifts in the car, be safe. Store your gifts out of sight in the trunk or glove box, not under coats or blankets. That’s an invitation for thieves to break into your car. If you have multiple shopping stops, move your car multiple times. Thieves keep an eye out for shoppers who drop off items and go back into the mall.
Your home should always look occupied. Around holidays like Valentine’s Day, when there is a lot of shopping happening, thieves will target empty homes and break in and look for gifts and boxes from stores.
Keep receipts and get appraisals. If the value of an item is disputable, it can’t be properly insured. Receipts and appraisals prove value. If you buy art, collectibles or jewelry, make sure you don’t skip the important step of getting an appraisal.
Expand your insurance coverage. As soon as you buy an expensive item, call us to expand your coverage and make sure your new gifts are safe with the option that is right for you.
True or False: Insurance Is Cheaper for Leased Cars
Cars are significant investments for millions of Americans, from the price of the monthly payments to gas and maintenance costs. It’s helpful when you can save on car insurance. Some wonder whether insurance is cheaper for leased cars or cars that you buy outright.
However, the idea that insurance is cheaper for leased cars is nothing but a myth. Car insurance is not based on how you purchase a car. Car insurance is primarily based on your driving record and the make, model and year of the car.
One of the considerations with leasing a car is that you may have to add the lender to your insurance policy, given that they have an interest in the vehicle. Thus, if you get into a crash and make a claim, the lender will be able to recover the portion they are still owed.
Besides that, the coverage options for car insurance on a leased versus owned vehicle should remain the same. The premium has to do with the condition of the car and the cost to make repairs, not the lease option. Typically, the newer, more expensive and rarer the vehicle, the higher your insurance premium will be due to the higher cost of making repairs.
Whether you buy or lease a car, consult with us for sample quotes before you make a decision that could cost you thousands in the long run. We are always here to help, and we’re just a phone call or email away.
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