According to the National Fire Protection Association, over $10 million in property damage are caused each year by Christmas trees and other holiday decorations. In addition, there are other types of accidents and hazards that contribute to injury and damage during the holidays, such as cooking fires, increased traffic accidents and fireworks related incidents.
So you need to protect your family and your home by having adequate insurance coverage, not only for the holidays but all year long. A standard homeowner's policy should cover most potential holiday accidents. They include...
Dwelling coverage - Your living space and attached structures (garages, carports, etc.) are covered for damages caused by explosions, fires, vandalism and other mishaps.
Personal property - Your home contents, including appliances, clothing, electronics and furniture are covered.
Personal liability - This coverage applies to mishaps where the homeowner is at fault for injuries or property damage, including bodily injuries or property damage suffered by someone outside your household while on your property.
Additional living expenses - The policy will help pay for your living expenses if an accident, such as a fire, requires you to temporarily move to another house or apartment.
Medical payments - This coverage pays for immediate medical expenses of an injured guest.
There are a few areas that may require additional coverage. Some examples include...
Theft - If you have property stolen that is worth more than your deductible, your policy should cover the loss. But personal property insurance may not cover expensive items. Particularly if you have very expensive gifts, such as jewelry, you may want to consider a separate jewelry policy.
Injuries and property damage - Personal liability coverage typically starts around $100,000. But if you have more elaborate holiday plans, your risks may increase and your liability policy may not be enough.
Fires - This is the number one hazard during the holidays. So again you may want to review your dwelling coverage is see if it is sufficient for your holiday plans.
If you're not sure if you have full coverage or if you expect to do a lot of holiday entertaining this year, give your J.P. Perry agent a call right away, before you get into the heavy holiday season.