Tuesday, December 11, 2018

Scheduling Jewelry on Your Insurance Policy

Christmas time is a season of gift-giving, and some of it is in the form of jewelry.  This means that you might find yourself with a new diamond ring or expensive piece of jewelry. While it is a wonderful gift to get, you need to protect your new investment!

Many people spend thousands of dollars on beautiful jewelry but don’t take the time to find out how to insure it. And this can be a big mistake!

If you have homeowners or renters insurance, then your jewelry is covered as part of the contents of your home. But there can be problems...

1. We don’t know what it is worth.  It’s hard to get the full value of your jewelry back if you don’t know all of the specifics!  Weight, color, cut, size, and so forth are all factors in the value.  Ten years from now you might not even remember how much you paid. 

2. You probably have a large deductible on your homeowners insurance.  Typically your contents coverage deductible is around 1% of your home value.  So if your home is insured for $200,000, then your deductible is $2,000.  If your ring is stolen, you’d be responsible for the first $2,000 before insurance kicks in! 

But there is a simple solution to avoid all of these problems. SAV-ON homeowners and renters policies allow you to “schedule” jewelry for a small additional cost.

You bring in the receipt and appraisal of the item and we add all of that information to your policy.  (Sometimes we don’t need all of this, just call us first and we can let you know.) 

You will be charged based on the value of the item, but typically it’s less than $40 per year! (Sometimes much less, sometimes a little more.  It all depends on how much insurance is required.) 

Plus, scheduled items don’t require a deductible.  So if your ring is lost or stolen, you pay nothing out-of-pocket but get to replace your precious jewelry.

So next time you open a jewelry box and put a sparkling diamond on your finger, make sure that you are insuring your investment. 

Have questions about scheduling items on your homeowners insurance?  Call SAV-ON today at 888-867-2866 for assistance! 



Wednesday, December 5, 2018

Protect Your Belongings This Holiday Season

The holidays have officially arrived!  And for many of us that means shopping, gifting, decorating, partying, and traveling. And a whole lot of it!

Insurance agents are always on the look out for things that might put our clients at risk.  That’s why we wanted to share a few quick reminders this month to make sure you avoid any potential claim situations. 

1.  Be careful with a live Christmas tree. Real trees are beautiful, but can be hazardous when if they dry out. To prolong the life of your tree, water it daily and turn the lights off at night and when you won’t be home to avoid a house fire. Make sure the lights on the tree and any extension cords are in good condition. Frayed cords can short out and start a fire!


2. Don’t leave gifts in your car! A lot of people don’t realize that items in their car are NOT covered by auto insurance.  While property off-premises is covered by home and renters insurance, it is typically subject to a much higher deductible.  If you must leave anything in the car, put it in the trunk and lock the doors.

3. Traveling out of town?  Don’t make it too obvious!  Leave lights on in the house (preferably on a timer), stop your mail, and leave your number with a trustworthy neighbor who will keep an eye on your home. Also, don't announce your travel plans on social media. It's an open invitation for thieves to ransack your home, knowing you won't be home for a few days.


4. Make sure to keep an updated insurance card in your car when you travel.  Not only is it good to have if you get pulled over, but all the information you need is in one place if you were to have a claim.


5. Need to contact us after hours or on the holiday?  No problem. Just call for after-hours assistance.


6. Received some special jewelry for Christmas?  Make sure to call SAV-ON so we can get it scheduled!  We’ll review all of your options to make sure it is properly covered and protected. 

And most important?  Have a safe and joy-filled holiday! We appreciate our wonderful customers!

Merry Christmas from all of us at SAV-ON Insurance Agencies!