Whether you are enjoying the winter season at home with family and friends or vacationing abroad, it is important to consider the inherent risks around the holiday season. Many of us get caught up in the holiday spirit and do not pause to think about the importance of liability protection when entertaining, the risks of traveling, or the necessity of adding precious new valuables to your insurance policy. With these considerations in mind, we have composed our top insurance tips on how to protect your assets as you enjoy the season.
Guest Related Incidents
Let’s face it, accidents happen and a house full of guests may present some additional hazards you may not consider on a day to day basis. From slippery floors to obstructed walkways, slip and fall accidents pose a serious danger to house guests. Slip and falls are one of the leading causes of emergency room visits, according to the NFSI. A great way to prevent any mishaps is to tidy up the entryway, provide a place to unpack, and create a kid-friendly space to avoid any imminent risks to your family, friends and yourself.
When buying an item of value for a household member, it is always advisable to contact your insurance agent. Purchases such as jewelry and fine art should be protected from the date they are purchased, and, depending on the value, may need to be specifically insured on a valuable articles policy. Always keep applicable receipts and appraisals and discuss the purchase with your client manager in order to ensure that sufficient coverage is in place.
Most of us remember the classic movie ‘Home Alone’. Often, the holiday season is a time of travel and while you are away, make sure your home’s security systems and fire alarms are activated and working. It’s advisable to refrain from posting that you’re out of town on outlets like social media. Ideally, you should designate a caretaker, friend or neighbor to monitor your home while you’re away.