With the launch of Apple’s new high-tech watch, many people are placing orders and anxiously awaiting the arrival of their new gadgets in April. While all of the hype is centered on what the watch can do (which seems to be just about everything), it’s important to consider how you’ll protect this pricey new possession as well.
Most homeowner’s policies limit coverage for personal valuables such as jewelry. Unless your property is scheduled, or specifically itemized with a value on your policy, your home deductible will apply to a loss. Many people choose higher deductibles to reduce their premiums. If you’re one of them, it’s possible you may not receive a payment if your deductible is more than the amount of the loss. However, with broadened property coverage a $10,000 watch would cost around $85/year.
Whether you have questions about insuring your new Apple Watch or a piece of fine jewelry, contact our knowledge brokers for more information.
