By Jeremy Miville
‘Tis the season for pretty ribbons, packages, and bows! Of course, we have to get them into the hands of our loved ones. Often times, this means we will be traveling with our presents. How can we be sure our gifts are protected from travel mishaps?
So if you’re like me, you’ll pack them with you and take them on your travels. I like the feeling of handing presents to someone in person or placing them under the tree myself. Luckily, travel insurance plans have special baggage coverages that can help me keep my holidays on track. The big thing is to understand your policy limits as they apply to your gifts.
There are three types of limits to which you’ll want to pay close attention: the policy limit, the per-item limit, and the specific item limit.
The policy limit is the total maximum amount of coverage you can receive if everything is lost or damaged. You’ll want a plan that not only protects the values of your gifts but your standard luggage bags containing wardrobe and essentials too!
The per-item limit should be noted when dealing with expensive gifts. This limit sets the maximum amount of reimbursement you can seek per individual item. You’ll want a plan that offers enough coverage to protect the value of your most expensive presents.
Finally, you’ll need to check on specific item limits, which are listed in some policies. This limit notes the clear allowance for limits on particular unique items like laptops and camera equipment and may include some of your fun electronic gifts.
Favorite gifts, such as jewelry and high-end technology, will likely bump into those per-item limits or even the specific item limits of a policy. You may want to contact your homeowner’s insurance company to ask if they can help you in protecting those items under your policy. You can still benefit from the baggage loss coverage on your travel insurance for reimbursement and replacement of the other items you may have lost while traveling, but your homeowner’s insurance would then be responsible for settling claims involving those unique valuables.
Should I just send your gifts in the mail?
It will be an extra cost, but shipping your gifts ahead of time may take the stress out of traveling with the excess luggage. The postal service, along with other providers, offers protection plans to cover any unforeseen damages that could occur in transit. But timing is everything, and there is nothing as aggravating as a Christmas gift given on December 28th.