10 Things You Wouldn’t Think to Insure – But Should Anyway

When was the last time you heard someone mention how much they loved insurance? Never?

That’s by design. Insurance is a necessary evil. You are essentially betting against yourself, paying money which will only give you returns if something goes wrong. However, it can save your life (in terms of health insurance) and your financial stability (when your property gets damaged or lost).

In addition to health insurance, car insurance, and home insurance, there are many more things you actually should insure. Here are 10 of the most common examples.

1. Smartphones

Many people have been asking the question should I insure my smartphone as long as smartphones have existed. The reality is that most of us need our smartphones available every single day. If you cannot be sure that you will be able to afford a replacement if something happens to your smartphone, insurance is worth it. It will save you from having to waste weeks waiting to buy a new one or having to settle for one that barely functions.

2. Camera Insurance

Since smartphones have great cameras, most people today don’t own a camera. However, it is still necessary if you are to take professional photos. Cameras are expensive, and are all-too-easy to drop and break. You also likely carry your camera in public where it can be stolen. Getting camera equipment insurance is crucial as you could find yourself out a lot of money. Check whether it is covered in your homeowners or renters insurance.

3. Laptops

Chances are you spent over $2,000 on your laptop. Unless you have a lot of disposable income, losing your laptop could significantly set you back or leave you in the lurch. Don’t take the risk of leaving it uninsured.

4. Jewelry

When you own expensive jewelry, you have to decide when and where it is worth wearing it. After all, if you go everywhere wearing a gold chain, the chances of it getting snatched from your neck are far too high. Unfortunately, this is true of engagement rings as well, which most people don’t want to leave at home most of the time. Get insurance for your expensive jewelry. It won’t save you from the sentimental loss, but at least you will have the finances to replace it.

5. Appliance Insurance

Unless you bought all your appliances when you moved into your place, you probably don’t know just how much they collectively cost. The reality is that you can easily spend in excess of $10,000 for just the basics. Make sure they are covered for all eventualities in your homeowners or renters insurance.

6. Sports Equipment

Sports equipment insurance is particularly important if you have gym equipment, but can also be crucial if you have spent thousands of dollars on the right shoes and clothes for a specific sport.

7. Musical Instruments

Yes, your musical instruments are another type of valuable item many people forget about when it comes to insurance. You don’t have to own a grand piano for their loss to be felt. Your collection of guitars or a drum set may cost more than you have to replace.

8. Art Insurance

Every expensive artwork is both unique and irreplaceable. Even if you do not have any attachment to the piece, it is an investment that cannot simply be replaced. However, it will hit you way harder if you do not get its basic value back when it is lost or stolen. Art insurance is incredibly important for this reason.