What Possessions Should I Insure?


Jennifer Lopez has her bum insured for how much? A whopping 27 million? We’ve all insured our cars, had renters insurance, or know a family member who has life insurance, but insuring body parts? Now that’s downright fascinating. Ready for some more mind-blowing insurance facts? Famous racehorses are often insured for millions of dollars. And remember the Kevin Spacey scandal of 2017? Well, the filmmakers of “All the Money in the World” were forced to re-cast and re-shoot the entire film, leading to quite a loss of revenue, which was, quite frankly, the last thing the film needed. This resulted in a concept known as “scandal insurance,” allowing policyholders to take out insurance claims if someone on the policy was involved in an extra spicy scandal. Discover more wild celebrity insurance claims here. Now, what items should you be sure to insure?

Odds are you’re not a celebrity in search of protecting their “behind” so, what do you need insurance for?

You might not have legs like Gisele that need the ultimate protection, but you do have many items that you do want to keep safe from harm. Imagine this: your fiance recently purchased you an absolutely exquisite white gold timepiece Rolex! You have been obsessed with Rolex watches since you were a little kid and you saw your first Rolex at the Rolex Kentucky 3 Day Event, where the winner is gifted with their own incredible Rolex watch. So, the moment your fiance gifted it to you, you’ve literally never taken it off except to shower. An item like this is destined for an insurance policy. The watch has authenticity and sentimentality that hold value for decades to come. It’s always better to be safe than sorry with an item of this magnitude.

Protect the biggest asset you own: your home.

Your mother has been preaching to you about the importance of generational wealth. According to her, one of the most impactful ways to accumulate wealth over time is to own property! (She’s not wrong by the way, you should definitely listen to her.) Even if you purchase your home brand new and it is in excellent condition, it is an absolute necessity to take out a home warranty policy, no matter how good the plumbing system looks. It’s a safe bet that something is going to go wrong with owning a home, even if you are the “perfect owner,” and that’s totally normal. For many homeowners, one of their biggest regrets is not purchasing a home warranty.

What does a home warranty cover?

When you’re beginning your home warranty process, try searching the web for “home warranty Florida” or your location. It’s good to know what a home warranty will cover, remembering that exclusions can apply depending on your coverage provider. A home warranty should be renewed every year, and it protects the major appliances in your home, like your stove, oven, washer, dryer, central air system, and more household appliances! It’s important to find affordable plans so that you continue to renew them yearly! Don’t be that family that decides they “just won’t break things” only to not renew their policy and end up having their HVAC unit and their refrigerator break within the same month. The repair costs significantly outweighed the cost of renewing the plan. (Now, If only you could go back in time and just renew it.)

Protecting the most important items in your life will take great stress away, leaving you with the ability to look onward and upward rather than constantly stressing out about accidentally scratching that beautiful new Rolex from your fiance.

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