For the 2021 holidays, big-ticket items were popular gifts. Many people gave and received gifts that might benefit from additional insurance coverage, from high-tech gadgets to one-of-a-kind collectibles. Special insurance called a scheduled personal property endorsement can help protect musical equipment, jewelry, fine art, collectibles, and other items that homeowners or renters’policies may not cover.
Tech-savvy trinkets
For years, electronics have topped gift trends, and 2021 was no different. Across the country, many people celebrated the holidays with gifts of personal electronics, such as laptops, smart devices, robot coding toys, and even a programmable coffee mug that keeps drinks at a consistent temperature when controlled with a smartphone. The most expensive items were gaming computers, the latest smartphones, and 3D printers.
Bright shining diamonds
Jewelry also consistently ranks among the most popular gifts during major gift-giving holidays. According to IBISWorld, by the end of 2021, jewelry retailers had raked in $33.9 billion in the United States alone. Major retailers have marketed rings, pendants, bracelets, and designer wristwatches as classic gifts that stand the test of time. In 2021, some shoppers opted for trendy styles like multi-chain necklaces and checker rings, while others stuck to traditional pieces like tennis bracelets and gold hoop earrings.
One-of-a-kind items
People who love movie memorabilia or pieces by their favorite artists also received some great gifts in 2021. According to Pop Insider, popular items included character figures, large models of famous fictional spaceships, and limited-edition film-used props. Apartment Therapy’s “Gift Edit” series covered several of the year’s suggested and trending gifts for fine art lovers, including fine art by Andrea Caruso, wearable prints by artists like Lena Wolff, Francesco Igory Deiana, and Faith Ringgold, and functional pieces inspired by artists like Keith Haring and Alexander Girard.
Musically-inclined gifts
Many people received musical instruments and other equipment for the holidays in 2021, whether to start a new hobby in 2022 or to foster their well-established musical obsession. Some of the most popular items included home recording equipment, high-end speakers, and guitars. These items can be expensive but vital to a musician’s work, and it can be difficult to replace a needed piece of equipment out of pocket. A scheduled personal property endorsement can cover this equipment, so musicians can keep on playing without missing a beat in the event of a loss.
Regardless of price, a gift from someone you love can be irreplaceable. Still, your Westwood agent can help you find the right coverage to give you peace of mind and help make things right in the event of a covered loss, including mysterious disappearances. This protection can bolster your current insurance coverage giving you the ability to replace the full value of your lost valuable. Visit our website today to learn more about Jewelry and Valuables Insurance. You can also reach out for a quote today.
