Are My Collectible Items Covered Under My Renters Policy?

Your stuff is important. A renters’ insurance policy protects your assets in case of disaster. But what about your high-value collectibles and one-of-a-kind items? How can you be sure you expensive items are fully insured?

The Basics of Renters’ Insurance

In the state of New York, all landlords are required to insure their properties against certain types of damage. The landlord’s policies, however, do not extend to their tenant’s belongings. That means that if a fire or flood damages your things along with the building, you will have to replace your own property.

A renters’ insurance policy covers your items in case of damage or theft. It also covers you are found legally liable for an injury someone sustains while in your apartment.

XL Brokerage Inc. offers renters’ insurance policies that are tailored for those living in the Selden, NY area.

Special Coverage for Special Items

A basic renters’ insurance policy offers a predetermined dollar amount in the event of property loss. That amount might not be enough to cover your special items and valuable collectibles.

For items whose value might exceed your policy limits, collectibles insurance can be added to protect your special things:

  • Jewelry
  • Artwork
  • Antiques
  • Other rare and valuable items

Do You Need Special Coverage?

Before purchasing collectible coverage, have your items professionally appraised. Knowing the true value will help you decide how much additional coverage you need, if any at all.

Keep in mind that the collectibles market is volatile. What is considered valuable today may be worth almost nothing in a few years.

The experts at XL Brokerage Inc. provide renters in the Selden, NY area with customized renters insurance packages that fit their unique budgets, interests, and lifestyles. We are here to answer any questions you might have about protecting the things you value most.

Keep Your Business Working with Workers Compensation Insurance

While every business is required to carry workers compensation insurance, XL Brokerage Inc. reminds you to work with a qualified agent to ensure your Selden, NY construction company has the right coverage to protect you and your employees in case of a severe workplace accident.

Review the Risks of Working in Your Industry

An office worker will not face the same kind of challenges that a construction worker does. Twisted ankles and carpal tunnel syndrome may send an employee to the doctor, but they aren’t as likely to materially change the quality of life as an industrial accident. When your employees work in a hard hat area, your workers compensation insurance policy ought to reflect the higher threat to life and limb.  

Carry Sufficient Liability to Cover Serious Injuries

You’ll want to discuss maximum and minimums per accident with your insurance agent. It may be less expensive to carry lower maximums up front, but if a worker suffers the loss of a limb and the policy won’t adequately compensate them for the injury, you could face additional expensive and lengthy litigation in civil court. When you care for the future of your staff, you build a positive reputation as an employer, lowering turn over and building your customer base.

Proactive Response Helps to Process Claims

When a serious workplace injury does occur, not only does a responsive insurance company help you weather the financial strain, but along with positive management can increase the satisfaction of the injured party through simple services. When you personally follow up with the employee, you’ll be able to properly respond to any new difficulties they might be facing. 

Your agent with XL Brokerage Inc. looks forward to the opportunity to assist you in finding the right workers compensation insurance for your Selden, NY business.