4 Times You Will Be Relieved You Have Umbrella Insurance

Umbrella insurance is proportionally a good idea simply because it typically does not cost much to add it on to an existing policy. If you already pay for insurance it is financially sensible to get an umbrella policy in addition. 

Here Are 4 Unique Reasons You Could End Up Relieved You Added That Umbrella Policy

  • When you are sued. Litigation fees can add up fast, whether after an accident or another situation. An umbrella policy specifically to cover attorney fees can be set up in addition to your auto or home insurance. This will mean you can afford to defend yourself properly against anyone who may be out to gain from a situation. 
  • After a bad accident. Extreme accidents that go beyond coverage are the most likely way that an umbrella insurance policy will prove useful. Those bills can add up in some circumstances and having an extra policy that covers what the basic does not, means an extra piece of mind. 
  • When you have something you cannot afford to lose or when you have a unique asset that needs extra coverage. Each circumstance must be discussed in advance and the coverage laid out in detail but it is common to protect certain unique assets with an umbrella policy so you do not stand to lose something that matters. 
  • When you are not only protecting your family, but many lively hoods. To protect your employees, and yourself, umbrella policies to go beyond the limitations of any insurance, from auto to home, to business means that much more protection if things go wrong. Even monetary investments can be insured in some cases, thus protecting the income of many. 

XL Brokerage Inc. can help you decide what umbrella insurance policy may be fitting for your situation. Good insurance offers so much more than a piece of mind, it can keep things afloat even in tough times. 

Loss of Precious Jewelry and Artwork in a Flood: How to Replace the Irreplaceable

Whether it’s a custom-designed diamond tennis bracelet gifted to you as an anniversary present, or that one-of-a-kind Marilyn Monroe pop art print signed by the original Andy Warhol, purchased from his art gallery, these precious keep sakes are irreplaceable. What makes them hard, if not impossible, to replace is the sheer fact of not only their worth combined with rare status, but the sentimental nature they possess from the gift or purchase experience. These items hold a connection to a dear memory.

Possessions that can be classified as difficult to replace include the precious jewelry category of custom designed and/or high-end designer bracelets, earrings, necklaces, rings, watches, and other related items set with diamonds, rubies, emeralds, sapphires and similar gem stones. These pieces are usually rare and have achieved the hard-to-find status. Then there are the paintings, sculptures, and other related art work that qualifies as valuable and/or collectible, crafted by known artists that have obtained the prestige of desired art formations. Valuable pieces of the art world, include in-demand artist signed and numbered prints, original paintings and sculpture, and art possessed by a popular or well-known public figure.

How can you prepare a back-up plan to avoid the loss of your precious jewelry and artwork in a flood? You can plan the following measures to help avoid the damage or destruction of this valuable personal property in this kind of situation:

  • Have a sealed and water tight vault or storage area located in the highest part of your living quarters where you can safely house your jewelry and artwork.
  • Keep readily available waterproof and water tight covers that can be quickly slipped over jewelry containers and artwork, then sealed to protect them from flood waters.
  • Plan an alternate storage location outside the flood zone most likely at a higher land elevation where you can quickly and easily access it to temporarily move these valuables.

If your artwork and jewelry is destroyed in a flood, how can you replace them? It’s not always simple to find items in lieu of such valuables, but you can try to come close to them. By keeping clear photographs, written descriptions, and purchase receipts of this personal property, you’ll be equipped to narrow your search to replace or come close to replacing them. It’s easier to research and identify similar items when you can clearly identify the origin of purchase, model or type, material, year created, and artist or designer. Let XL Brokerage Inc., serving Selden, NY, be there to help you restore your lost, destroyed, or damaged precious jewelry and artwork. They can help replace your irreplaceable personal property.