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Insurance is important. From your personal property to your big day, here are some things you need to know.

The majority of people consider insurance a necessary evil - you don't want to pay for it, worry about it, think about it, deal with an agent, etc., but when you need it, you are very glad you have it.

If we consider that the basic purpose of insurance is to transfer your risk - as in the insurance company assumes the risk or chance of something happening that results in a loss and expense - we can see where it helps protect us from unexpected out-of-pocket expenses. When something bad happens, assuming you have the appropriate coverage, your insurance should cover the loss up to the dollar amount shown in your policy or percentage of expense incurred.
Are your valuables covered?
You know that your homeowner/renter policy covers your personal belongings, but did you know that most companies limit the dollar amount of coverage. For example, expensive items like jewelry, guns, art and furs are covered but there is usually a dollar limit if they are stolen. Generally, you are only covered between $1,000 and $2,000 for these items as a group, not individually, and, most often, this isn't enough to cover full replacement. So that $5,500 wedding ring and your other jewelry? Well, you get your $1000 and cover the remaining replacement cost out of pocket or call it a wash.

Something else to consider is your personal property limit found in your homeowner policy. If your personal property limit is only $100,000 and your home burns to the ground, your $25,000 gun collection or home gym replacement may not leave enough to replace the other items lost like your furniture, appliances, clothing, etc. In order to determine what your limits should be, do a home inventory listing ALL items in your home and their value. This will give you a clear picture of what you need to cover.
How do you protect yourself and remedy these coverage gaps? In order to insure these items for their full value, you should purchase a scheduled personal property endorsement, or floater, which allows you to insure items at their appraised value. These endorsements are very affordable and will make a huge difference when you need them.
Protecting your big day.
Your marriage is a major life event, and wedding insurance can protect you from the expense of mishaps on your special day. When you gather your family and friends at your ceremony and at your wedding reception, you shouldn't have to worry about what could go wrong. Wedding liability insurance is designed to protect you against unforeseen incidents, such as a trip and fall injury to a guest, or alcohol-related accidents.
Also, since you have spent so much time and money planning the big day, you should know that there is wedding insurance available that will cover cancellation/postponement, lost deposits, additional expenses, special attire and special jewelry. A basic policy can reimburse you if you lose your non-recoverable deposits and purchases if covered circumstances beyond your control cancel or postpone your wedding. You can also be protected against no-show vendors, damage to wedding attire, damaged gifts and much more.
What to remember.
To protect yourself and your belongings, be honest with your agent. The best way to do this is to be prepared with a list of valuables (because we don't know what you have in your home unless you tell us). Also, consider what your options will be if you don't have adequate coverage; and know what is covered in your policies, what restrictions exist and what your coverage limits found within your policy.
Bottom line - make sure you are covered adequately. It is bad news when you aren't and need to be.
Make an appointment with your local agent today so they can find the best coverage for you.