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Dear Santa:
Ho! Ho! Ho-ld on! Before we focus on insurance, let's talk "risk management." After all, there are more break-ins around Christmas time, so you need to take some extra measures to keep those carefully chosen gifts from falling into the wrong hands.
First of all, don't tempt thieves by piling your gifts -- wrapped or not -- under the Christmas tree and then leaving the drapes open so anyone can see them. And once the lucky recipients have unwrapped all their goodies, don't leave the empty boxes outside. A crisp cardboard box that recently held, say, a computer, is an open invitation to thieves.
As far as your insurance goes, your home policy has its limits. For example, there is usually a limit of $2,000 on jewellry and fur coats. There is likely a limit on computer software, coin collections, and other collectibles as well. This may vary by company, so be sure to check your policy. If you discover any gaps in your coverage, contact your insurance representative right away to arrange for additional protection.
And if a laptop computer is among the bounty, keep this in mind -- there is a maximum dollar limit for "books, tools and instruments pertaining to a business or profession" and it could be as low as $2,000 -- not sufficient to cover the value of a laptop. So, if you think the computer may be used for business purposes, you need a special business policy.
So don't let the Grinch steal your Christmas. Keep your valuables under wraps and adequately insured. Happy holidays!
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