How To Protect Precious Holiday Gifts This Season

Your holiday season is a time of celebration, generosity, and often the gifting of something extraordinary like a sparkling diamond necklace, a rare piece of art, or a collector’s edition handbag. However, amidst the joy and excitement, it’s easy to overlook something critical: ensuring your valuable gifts are properly insured.

Did you know that newly purchased items may not automatically be covered under your insurance policy?

Many people overlook this one important detail and assume new valuables are protected when they are not. You can avoid this with an appointment or even just a quick call to your Waypoint insurance broker to let them know what you are planning to purchase and how to go about insuring it in the best way.

Typically, a quick update to your policy will provide peace of mind that your treasures are covered against holiday mishaps. This means that whether you’re traveling with the precious gift and it gets lost, or you’re hosting a lively family dinner where a damaging accident occurs, both the insured item(s) and the joy they bring to the season will be preserved.

At Waypoint, we understand that protecting your most cherished holiday purchases is a priority for many, but it can be stressful and burdensome, particularly during an already-bustling time of year. That’s why we’re here to make the process seamless and stress free so you can focus on enjoying the season. For gifts dazzling and rare, here’s everything you need to know about getting them insured this holiday season.

Pre-Existing Coverage: A Common Misconception

One common misconception around holiday gift insurance is that new purchases are automatically covered under an existing insurance policy. Unfortunately, that’s very often not the case, but for many, by the time they realize that, it’s too late.

Let’s look at traveling as our first example. When traveling, you might pack an heirloom necklace in your luggage that is later stolen at the airport. What do you do? Unless you have an insurance policy on the piece, there is a good chance both suitcase and necklace are gone, and you are left without the funds to replace them.

Even at home, holiday festivities can pose a risk to your prized possessions. Imagine hosting a bustling family dinner party where a rare porcelain vase falls casualty to an energetic guest or a curious child. These accidents happen more often than we realize during the holiday rush, and

repairing or replacing such treasures can be financially daunting without the appropriate coverage in place.

And then there’s the matter of hiding gifts to preserve the holiday surprise. Stashing a luxury handbag, collectible, or other valuable item somewhere unconventional like a garage, attic, or in the back of a closet may keep prying eyes away, but it can expose the item to other risks. Damage to the item as a result of temperature fluctuations, water infiltration, or accidental mishandling will likely not be covered under an existing policy if you choose to stow it unconventionally.

Fortunately, insuring your high-value items with a Waypoint insurance policy provides peace of mind in all these scenarios. Whether you’re traveling, hosting, or preparing for the big day, our comprehensive coverage ensures your treasures are protected from the moment you purchase them until after they are safely in the hands of your recipient.

What Can Be Covered

Because Waypoint understands the importance of your valuable possessions, we provide insurance solutions for a wide range of items, including:

• jewelry & watches: everything from engagement rings to luxury timepieces
• fine art: paintings, sculptures, and other collectibles
• rare collectibles: wine collections, handbags, coins, and more
• fragile items: fine china, crystal, and porcelain

In addition to these, Waypoint offers comprehensive coverage for items in transit, giving you the freedom to travel confidently with your treasures. If a holiday surprise is part of the magic, discretion is our priority, and we’ll be sure to provide updated documents in a way that won’t spoil the gift.

The Simplified Process Of Adding Coverage

Adding coverage for luxury items with Waypoint is straightforward and stress free. In most cases, you won’t even need an appraisal! Jewelry valued under $100,000 and fine art under $250,000 only require a detailed description and estimated value. For added simplicity, blanket coverage can be applied with a $0 deductible, making it easier than ever to protect multiple items.

Protect Your Holiday Joy With Waypoint

Precious gifts like jewelry, fine art, or rare collectibles are valuable investments, and we understand how crucial it is to avoid any unforeseen stress over the holidays. The holidays should be filled with memorable moments, moments unmarred by an avoidable mishap. By

insuring your luxury items with Waypoint, you are ensuring not just the protection of physical possessions but the peace of mind that comes with knowing your treasures are secure.

If you are ready to safeguard your holiday investments, get in touch with us today to explore personalized insurance solutions that will keep your valuables—and your holiday spirit—protected