Risk & Business Magazine Walsh Duffield Companies Fall 2016 | Page 26

CHERISHED POSSESSIONS How To Protect Your Most Cherished Possessions Personal Property Endorsements M ost people have items in their home that they could not bear to lose. These are the types of possessions that may have been given to you by a friend or family member or things that have intense personal value to you. Many of these types of items couldn’t be replaced even if you wanted to, either because they just are not replaceable or because they have a high replacement cost. While your homeowners insurance is invaluable for covering the loss or destruction of many of your belongings, your policy might provide only partial coverage for your most cherished items. Fortunately, you can still protect the things that matter most to you, even if they’re not fully covered under your homeowners policy. With a scheduled personal property endorsement that is tailored to meet your specific needs, you can ensure that all of your cherished possessions are covered the way you would want them to be. A scheduled personal property endorsement is not something that everyone talks about, but we at Walsh Duffield can help you determine if it would be a good fit for you. Though this endorsement is typically more expensive than Extended Coverage would be, it is also able to provide more specific coverage 26 | FALL 2016 to your valuables. Additionally, it covers not only loss or damage to the property but also mysterious disappearance or direct physical loss, something which would most definitely not be covered under a standard homeowners policy. The first step begins with looking around your home and making a list of your cherished possessions. Be sure to consider the following when making the list: • • • • • • • need, while at the same time using all possible credits and discounts to make that coverage affordable. Let us sit down with you and walk you through our exclusive VIP client review—designed for executives like you. With this program, we will review your coverage and help you evaluate your personal exposures. Contact us today for information. + Valuable antiques Valuable jewelry Art collections Silverware and china Musical instruments Autographed items Rare items that may be one-of-a-kind Once you have taken an inventory, make the time to talk with us. It is always a good idea for you to complete one of these inventories at least once a year. Again, it is important to avoid relying on your homeowners policy to cover many of your possessions. We are always here to help you determine whether or not your prized possessions need more coverage than your current policy provides. At Walsh Duffield, we can work with you to make sure you’ve got the coverage you BY: NADINE CRAINER, VICE PRESIDENT OF THE VIP UNIT [email protected] 716-362-7341 Nadine has 30 years of experience in the insurance industry, with a focus on personal lines. She is a licensed property/ casualty agent and serves as the Vice President of the VIP Unit at Walsh Duffield.