Unfortunately, there are times in all of our lives when we need to call on our insurance company to help out. This is often the worst times in our lives. It is a time in need where we expect the people who say they are going to help, to help. In reality, this doesn’t always happen. With the MLB all star game, Olympics, NBA finals, and much more going on in the past weeks, it got me thinking about all of those valuables that we loved as kids. We’ve all had friends growing up who “just got this cool new rookie card.” I remember spending time with my friends gawking over each other’s sports card collections and making trades to get that perfect card, or that perfect set of cards that you’ve been working towards. As those children grow older, the collections sometimes gets larger, more expensive, and more cherished. So, naturally I started thinking about how these collections get taken care of in a catastrophe.
Continue Reading Making Sure Your Collectables Are Safe at Home

I was recently asked by a friend of our firm to look into the issue of personal property limits for flood coverage. The question focused on antiques damaged by flood waters. Specialty, high value items are covered under section B6 of the standard flood insurance policy (SFIP).

Special Limits. A total of $2,500 is the maximum payment allowed for artwork, rare books, jewelry, furs, or any article containing fur, which represents its principal value, as well as personal property used in any business. This maximum payment also extends to the following:

Porcelain or other figurines and sports cards
Autographed items
Precious and semiprecious stones
Articles of gold, silver, or platinum

This coverage is limited to personal property owned by the named insured, household family members, servants, and guests.

Antiques. Coverage is provided only for the functional value of antiques.

Continue Reading Are Works of Art and Antiques Covered Under Your Flood Insurance?