Protect new holiday gifts

DENVER, Jan. 9 — During the 2007 holiday season, "Americans planned to spend an average of $859 for gifts," according to the American Research Group, Inc. Of those costly holiday gifts, many may not be protected from loss under a homeowner's insurance policy.

"New gifts of jewelry, camera equipment, watches, furs, and sport items like ATVs or snowmobiles may not be adequately covered under existing homeowner's insurance policies," says Jim Rookard, Director of Insurance Services for AAA Colorado. "In 2008, take the time to protect your new gifts and purchases along with items already owned, by reviewing your homeowner's insurance policy."

AAA Colorado has designated January as Insurance Review Month to remind everyone that an annual review of all insurance coverage is critical for safety, security and peace of mind. Following are some tips on insurance from AAA Colorado, one of the largest agencies in the state specializing in personal lines insurance.

In order to determine if there is adequate insurance to replace possessions, consider the following:

1. Take the time to create a household inventory.
2. Photograph or videotape all items in the home (especially new and valuable items.)
3. For major appliances and electronic equipment, record their serial numbers, usually found on the back or bottom.
4. Valuable items like jewelry, art work and collectibles may have increased in value since you received them. Check with an insurance agent to make sure there is adequate insurance for these items.
5. Keep receipts for valuable items. Keep copies of documents and information in a safe place outside the home, such as in a bank safe deposit box or a relative's home.
6. Review any recent acquisitions with an insurance agent to see if any new items need additional coverage.
7. Renters can also protect their home's contents against theft and fire with renter's insurance.

For more insurance information, along with a sample home inventory list, visit www.aaa.com and click on "Insurance/Financial" or call 877-244-9790.

AAA Colorado has more than 500,000 members in Colorado and is an advocate for safety and security for all travelers. As North America's largest motoring and leisure travel organization, AAA provides nearly 51 million members with travel, insurance, financial and automotive-related services, as well as member-exclusive savings. AAA can be visited on the Internet at www.aaa.com.

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