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Insure Your Fine Art and Collectibles

Bookmark and Share Your fine art or collectibles could include rare treasures you've accumulated over time, inherited from a grandparent or purchased at an auction. In many cases, fine arts and collectibles hold sentimental value, serve as an investment for your future or provide educational value. Learn about fine art/collectibles insurance as you protect your valuables.

What is Fine Art/Collectibles Insurance?

Fine art/collectibles insurance is an important investment for the fine art/collectibles you wish to enjoy, share with others, bequeath to a family member, save as a future investment or preserve.

There are usually two types of fine art/collectibles insurance coverage. For both types, you'll need an appraisal or bill of service for your valuables.

Scheduled - List and insure each piece individually. Each piece is insured for the stated amount, and you may add or delete pieces as needed.  

Blanket - Cover your entire collection as one item rather than insuring each piece. This option makes adding, selling, donating or giving away pieces easier, but you'll need to determine the market value of each piece if you must file a claim.

What Does Fine Art/Collectibles Insurance Cover?

Use your fine art/collectibles insurance for a variety of objects. Here's a partial list, but ask your insurance agent for specific details about your rare treasures.

  • Toys, including  model autos or trains and dolls
  • Rare books and comics
  • Stamps
  • Sports cards or memorabilia
  • Guns
  • Knives
  • Art, including prints and sculptures
  • Silver, gold or other fine metals
  • Jewelry
  • Historical artifacts
  • Archaeological specimens
  • Furniture
  • Textiles
  • Antiques
What Claims Does Fine Art/Collectibles Insurance Cover?

A typical fine art/collectibles insurance policy provides all risk coverage for a variety of perils. In general, it includes damages caused by accidents, theft, vandalism, fire, flood, hurricane, earthquake or other perils. Your insurance policy will include coverage details.

Why Buy Fine Art/Collectibles Insurance Cover?

Traditional homeowners insurance policies cover your home and possessions. It might not include adequate coverage for expensive rare treasures, though, since coverage for your home's contents is usually limited to between 50 and 70 percent of your home's value. Also, this policy may not cover your fine art/collectibles if you loan them to a museum, transport them in a vehicle or display them somewhere besides your home.

Additionally, an insurance policy can give you peace of mind. It won't protect your fine art/collectibles from burglars, thieves, storms or accidents, but if something happens to your treasures, you may file an insurance claim and replace or repair your collection.

You value your fine arts/collectibles, so insure them. Fine arts/collectibles insurance gives you peace of mind and protects your investment. For more details, talk to your insurance agent.

Creating Curb Appeal Can Sell Your Home Faster

Bookmark and Share It’s become increasingly difficult to sell homes. Because buyers generally decide whether or not to purchase a home in the first five minutes after arriving on a property, curb appeal can make or break a sale. Fortunately, increasing your home’s curb appeal to potential buyers is simple and inexpensive.

One of the first things potential buyers notice when they arrive at your home is your landscaping. Landscaping can tell a lot about a home, as poor landscaping often leads buyers to believe the property and home have not been maintained properly. Well-designed landscaping can be an invitation to visitors and can create a good first impression. Fortunately, you need not spend a great deal of money to tidy up your yard. Simply removing any clutter, trimming any existing trees and bushes, and adding a few well-placed flowerbeds will go a long way toward increasing your home’s curb appeal.

Fenced yards can often be a selling point, but sagging fences or chipping paint can turn away potential buyers. If your yard is fenced, look at your fence and gates objectively from a buyer’s point of view the next time you drive up to your house. In some cases, when fencing is badly damaged, it is probably a wise move to remove the fence completely. In most cases, however, a coat of paint or a quick repair job is all you need to turn an eyesore into a positive feature.

Walkways are another area you can improve easily with little time or money. Replace loose stones, trim and tidy any borders, and fill visible cracks with builder’s sand. Remove badly damaged walkways or replace them with inexpensive paths. Trim bushes growing alongside any walkway that leads from the driveway or road to your front door to allow for a comfortable walking space.

One often-overlooked feature that can help tremendously with curb appeal is lighting. Lighting, when done correctly, can highlight the positive areas of your yard while camouflaging unattractive areas. Landscape lighting does not need to be expensive, and solar lights will be attractive to eco-conscious buyers. Typically, a light should be placed in or near an area of landscaping, and lights should adequately illuminate the entry way and any walkways leading to the front door.

Potential buyers will overlook all of the above improvements if your home is badly in need of new paint. You can improve curb appeal drastically by adding a fresh coat of paint to the exterior of your home. Choose warm, neutral colors to create a relaxing impression, but be sure to check with your homeowners association before changing your current color scheme.

Curb appeal is an important part of bringing potential buyers to your front door. An attractive and inviting exterior can create the good first impression needed to bring in an offer on your home, while a poorly maintained yard can send buyers away before they even have a look inside. Improving your home’s curb appeal is easy, inexpensive, and essential in today’s market.

Benefits of a Personal Umbrella Policy

Bookmark and Share Personal Umbrella Insurance provides extra liability coverage. It supplements your auto and homeowners insurance as it protects your assets and gives you peace of mind.

What is Personal Umbrella Insurance?

If you're in an auto accident or someone is injured on your property, your auto insurance or homeowners insurance will cover your liability. However, liability claims can exceed tens of thousands of dollars depending on the damage. Your auto or homeowners policy may not cover the full amount of damages.

That's why you need personal umbrella insurance. It kicks in when your auto and homeowners insurance policy limit are met. With it, you can cover your liability costs and protect your home, personal or retirement savings, college fund, future earnings and other assets. Your current lifestyle remains secure thanks to the added protection of your personal umbrella insurance policy.

Additional Benefits of Personal Umbrella Insurance

In addition to covering any liability after an accident, your personal umbrella insurance policy covers several other incidents. Consider these additional benefits as you decide if this extra coverage is a wise investment for you.  

  • Personal injury coverage if someone files a libel, defamation of character, slander or related claim against you
  • Worldwide coverage if you cause an accident while traveling abroad
  • Vacation rental liability for rental equipment like scooters, boats, jet skis or other rentals
  • Defense coverage associated with attorney fees and related legal costs
Who Needs Personal Umbrella Insurance?

Maybe you think that personal umbrella insurance is only for the wealthy. Actually, it's recommended coverage for anyone. You may not own $1 million in assets, but a single lawsuit can be expensive. Use your personal umbrella to pay the claim and associated legal fees as you protect your assets and lifestyle.  

How Much Personal Umbrella Insurance Should You Buy?

Personal umbrella insurance policies are usually available in million-dollar increments. Take stock of your assets, and then select a policy of $1 to $5 million. In general, you'll want a $1 million policy if you earn more than $100,000 annually and up $3 to $5 million if you own rental property.

How Much Does Personal Umbrella Insurance Cost?

Your risk affects the cost of your personal umbrella insurance policy. On average, expect to pay $200 per year for a $1 million policy or $300 per year for a $2 million policy if you own a home and two cars.

A personal umbrella insurance gives you peace of mind as it protects your assets. For assistance choosing the right personal umbrella insurance policy for your needs, talk to your insurance agent.

You Need to Consider Flood Insurance

Bookmark and Share Don’t wait until the weather forecast calls for prolonged heavy rains before buying flood insurance. While this practical insurance can be purchased anytime, the policy does not take effect for 30 days. As the most common natural disaster in the country, flooding ruins millions of dollars of homes and property every year. Even so, flooding is not commonly covered in your typical homeowner’s insurance policy, making it necessary to purchase additional coverage for this costly, devastating disaster.

If you are in a high-risk flood zone, a federally regulated lender will require a would-be borrower to buy flood insurance in order to qualify for a mortgage loan. To satisfy the lender, flood insurance must be purchased in an amount that sufficiently covers the loan.

A homeowner should also buy flood insurance if he or she resides in a flood plain with no failsafe controls, such as a dam. Flood policies even pay off if the President does not declare the area a federal disaster area, which can prove to be invaluable. Because the nation’s Chief Executive Officer rarely issues such a declaration, protecting yourself is extremely important.

Besides, you have to repay the federal aid you receive for home repairs related to a natural disaster so providing your own protection is the only way to ensure financial recovery suffered from flooding. Not all homes qualify for flood coverage. For instance, flood insurance for beachfront or ocean-side property may not be available for the obvious reasons.

The Federal Emergency Management Association (FEMA) reports that more than 20,000 communities have agreed to tighter zoning and building measures to control floods. Residents of these communities can buy flood coverage from the National Flood Insurance Program (NFIP), which FEMA oversees. As of 2009, NFIP had 5.7 million flood policies inforce nationwide.

Premiums for flood insurance vary widely, depending primarily on individual risk. In determining price, flood insurance underwriters consider several factors including the property’s elevation, proximity to bodies of water, and whether the dwelling has a basement. Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Call out office today! We'd be happy to assist you through the murky waters.