Make Sure Gifts Are Covered Adequately.

With the holidays upon us, Professional Insurance Agents of New York State Inc., Glenmont, reminds consumers to make certain they have adequate homeowner's or renter's insurance to cover any expensive gifts they may be giving or receiving. "Personal computers, fine art, cameras, and jewelry often are thought to be fully covered, but there may be limitations on the amount of insurance and on the types of loss or damage that are covered," explains former PIANY president Shelly Kozel.

Consumers may want to consider theft endorsements and floaters. "With an endorsement to a homeowner's or renter's policy, you can specify a higher amount of coverage than under the standard policy to protect you if your property is lost, stolen, or damaged." He suggests looking into a personal articles floater. With it, items such as jewelry can be covered for their full value--with no deductible--based on a bill of sale or current appraisal. The floater covers property for additional causes of loss as well, such as dropping a new ring down a drain.

"You also should be aware that presents stolen out of your car will not be covered by your personal auto insurance policy," Kozel warns. "However, you may have...