The Ultimate Holiday Gift Insurance Wish List
The holidays inspire warmth and a spark of generosity. Twinkling lights, a crackling fireplace, and cups filled with warm cider and steaming cocoa help set the scene. But, before you start shopping, examine your family’s wish list to see if some of your gifts need insurance.
Having the right coverage gives the greatest gift of all: peace of mind. Here’s what you should add to your holiday wish list.
For New Vehicles: Auto Insurance
These days, new and used vehicles are costing more. So, if a new, or new-to-you, vehicle is on your holiday wish list, you’ll want the proper insurance coverage for it. You might consider collision and comprehensive insurance policies if your vehicle carries a high value. (Of course, these coverages are typically required if you’re leasing or gradually paying off a vehicle loan.) If you’re buying for a teen driver, we have some advice on how to choose the best car for them. No matter the recipient, make sure to ask these auto insurance questions before buying a vehicle.
Auto insurance isn’t just for cars, trucks, SUVs, and vans. In Texas, motorcycles have the same registration and insurance requirements as any other “street-legal” vehicle, as defined by the state. Your Agent can answer any questions you have about motorcycle insurance.
For Engagement Rings, Art, and Splashy Gifts: Inland Marine Policy
If there’s a Christmas engagement in your holiday plans, add an inland marine policy to the itinerary. This type of policy has it all: a low deductible, a relatively inexpensive premium, and — most importantly — broadened coverage. It’s a holiday “must” if you’ve got gifts such as jewelry, art, or precious family heirlooms wrapped and under the tree. You can also add valuable collections to this policy. It’s an easy way to protect what you cherish, whether it’s a stamp collection or an impressive set of vinyl that would make any notable record store jealous.
Remember: While your homeowners’ policy will cover some of the valuables in your home, there’s a limit. Plus, even if your item is covered, you could still be saddled with a high deductible, making an inland marine policy a better financial choice for your needs.
For Holiday Gatherings at Home: Personal Liability & Umbrella Coverage
Opening your home to friends, family, and colleagues can be one of the holiday season’s greatest joys. But hosting a holiday gathering comes with responsibility and liability. Accidents happen, whether it’s a slip on ice-covered steps or a nip from an overwhelmed pet. While it dampens the holiday cheer, sometimes accidents can spiral into expensive litigation.
There are two things you can do to ensure your holiday stays bright and festive: increase the personal liability coverage limit on your homeowners’ policy and/or consider an umbrella insurance policy. Liability coverage is included in most homeowners policies, but it only covers so much. If you have a significant amount of assets, adding an umbrella policy could help protect you and your family.
For Celebrating an Expanding or Changing Family: Life Insurance
The holidays are a time of reflection and renewal, and there’s no better way to celebrate an engagement or new addition than with a life insurance policy. On the surface, you may not think of life insurance as a holiday gift, and no one wants to think about why you need it—especially this time of year. But, the truth is, life insurance is one of the most important gifts you can give your family. Look at it as a protective layer against life’s unexpected moments.
For a Little Something Extra: Member Benefits
There are perks that come with being a Texas Farm Bureau member. We call them member benefits, but you can think of them as stocking stuffers — a little something extra. The best part is there’s something for nearly every need. Traveling to see family this season? Tap into your Texas Farm discounts on hotels, car rentals, and even Jiffy Lube oil changes. There are also discounts on amusement parks and college and professional sports—great ways to spend time with family year-round! Looking for last-minute gift ideas? There are discounts on Dell computers and electronics and Dungarees.
Your Agent Can Help With This Wish List
As the year comes to a close, this is an ideal time to sit down with your Agent for a 360 Review. On the surface, this is an annual insurance review. But, really, a 360 Review is a systematic look at your insurance policies and an analysis of any recent life changes (such as marriage, a new baby, or retirement) that may impact your level of coverage.
No matter what’s on your wish list this holiday season, there’s coverage to help protect it. Call your Texas Farm Bureau Insurance Agent to go over your coverage needs of Christmases past and present. A 360 Review can help determine whether or not you have enough coverage and what type of coverage you may need.
Coverage and discounts are subject to qualifications and policy terms and may vary by situation. © 2022 Texas Farm Bureau Insurance
