New Year, new outlook. Many of us have been busy writing down goals for 2018 and looking forward to starting off the New Year with a fresh perspective. I’ve always loved hearing the variety of resolutions from my family and friends and the different ideas they bring to the New Year. Of course, you hear the most common resolutions of “watch what I eat,” “go to the gym more,” “save money,” etc. But this year, I’ve heard a new resolution; “be more prepared.” This got me thinking: am I prepared for the unexpected and how can I help others be more prepared? In the insurance world specifically, there are many unexpected situations that can take place, but there are also many ways to be more prepared

Did you know that many homeowners’ policies have special limits of coverage for certain types of property? Do you own any valuable jewelry? If so, did you know that many insurance policies only cover theft of jewelry up to $1,500? Many years ago, I handled a claim for a policyholder who had tens of thousands of dollars ($$$!!!) in collectible coins and money stolen from his home. Unfortunately, his policy limit for some of the items was a mere $200. Can you imagine his reaction when I called him and had to break the news? Not fun for either of us.

People invest their money in many different ways. Whether it be collectible coins, jewelry, or silver, the last thing we want is to have our most valuable investments not be fully insured. So this New Year, I encourage everyone to think about what kinds of property they own and consider whether their property is adequately insured. When you have a chance, take out your policy and read through some of the special limits of liability. I know reading through an insurance policy may be the last thing you want to do, but if you are prepared for the unexpected and your valued possessions are adequately insured, you’ll be glad you did!

For more information on how to protect your special possessions and prepare for an unexpected loss, watch Insurance 101: Insuring Your Valuables (Scheduled Personal Property) and read Schedule It!

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