Check homeowners policy to ensure gifts are covered

'Tis the season ... for break-ins.

Yes, it's that time of year, again. Like tinsel for the tree, I roll this out every year, but it's always worth repeating: As your house becomes full of expensive gifts, it's a good idea to check your homeowners insurance policy to ensure you're covered.

It may feel more like Scrooge than Santa, but for many households, the value of gifts waiting to go on Santa's sleigh can push many policies over their limit. The shortfall can leave gifts purchased for friends and family uninsured if a home is burgled over the holidays.

Standard homeowners and renters insurance policies include coverage for personal items such as jewelry, electronics, antiques and other collectibles. But many policies limit the dollar amount for theft of valuable personal possessions to around $2,000.

A few purchases of significant value, such as a diamond ring or state-of-the-art entertainment equipment, easily can take the value of a home's contents over the maximum amount allowed under a policy.

If additional insurance is needed, buy additional coverage, said Allison Love, executive director of the S.C. Insurance News Service, a Columbia-based nonprofit funded by insurance companies to provide insurance information to consumers.

To make sure items are covered adequately, owners should consider buying additional coverage such as a "floater" or an "endorsement," Love said.

A floater is attached to a homeowners policy and insures movable property. It covers losses wherever they occur and typically is used for items such as musical instruments, portable electrical goods and jewelry.

An endorsement, sometimes called a rider, is a written form attached to an insurance policy that provides additional coverage for specific items of significant value that are not included under the policy's general limit.

New policy

Speaking of insurance, the state Insurance Department has revamped its Web site. I must say, it looks much fresher and easier on the eye. The site contains most of the same information as the old one, but it seems easier to navigate. See for yourself at www.doi.sc.gov.

Reach Peter Hull at 937-5594 or phull@postandcourier.com.