Extra Coverage for Expensive Gifts 

During the holidays, many people purchase high-value gifts such as jewelry, electronics, and collectibles. While homeowners' and renters' insurance does provide personal property coverage, standard policies often have limits that may not fully protect expensive items.

How Standard Home Insurance Covers Personal Property

Most homeowners and renters insurance policies include personal property coverage for theft, fire, and other covered losses. However, high-value items are usually subject to sub-limits.

Typical limits may include:

• Jewelry: often capped at around $1,500–$2,500
• Electronics: limited coverage for certain devices
• Watches, collectibles, and artwork: subject to strict caps

If an expensive gift exceeds these limits, insurance may only pay a portion of the loss.

When Extra Coverage Is Necessary

You may need additional coverage if:

• You purchase engagement rings or fine jewelry
• You buy high-end laptops, cameras, or gaming systems
• You receive valuable gifts during the holidays
• You store multiple high-value items in your home

Without added coverage, losses from theft or damage may leave you paying out of pocket.

What Is Scheduled Personal Property Coverage?

Scheduled personal property coverage, also known as a rider or endorsement, allows you to insure specific items at their full value. Benefits include:

• Higher or no deductibles
• Broader coverage than standard policies
• Protection against accidental loss or damage

Items usually require appraisals or receipts to be scheduled.

Coverage for Electronics and Smart Devices

Electronics are often covered under standard policies, but coverage may exclude accidental damage. Extended warranties or endorsements can help protect against drops, spills, and mechanical failure.

How to Decide If Extra Coverage Is Worth It

Consider:

• The value of the item versus your deductible
• Replacement cost versus depreciation
• Theft risk in your area

Adding a rider is often affordable compared to the value it protects.

Conclusion

Yes, extra coverage is often necessary for expensive gifts like jewelry and electronics. Reviewing your policy and adding endorsements before or after the holidays ensures your most valuable items are fully protected.