would a Valuable Items policy be needed? The protection
provided for personal property under the typical homeowners
policy is very broad, and includes coverage for your
furniture, clothing, and appliances. In addition, it
provides limited coverage for such items as jewelry,
silverware, furs, and firearms. However, it may not
cover some types of loss that may be important to you,
such as the stone falling out of your diamond ring,
your antique statue that is accidentally broken, or
a flooded basement that damages your personal computer.
In fact, most homeowners policies set dollar limits
on the amount of protection offered to cover the theft
of items such as jewelry or furs ( usually only up to
$1,000), firearms (up to $2,000), or silverware (up
to $2,500). Optional add-on coverage to the homeowners
policy (like our Valuable Items Plus endorsement) is
available to enhance coverage by providing higher limits
(up to as high as $50,000 in some cases, but limited
to $10,000 per item) and expanded protection for special
property. This usually provides most homeowners with
your assets adequately protected? To run a successful
business in today's society, you need more than energy,
vision & talent. You also need protection. At a
time when $1 million settlements are common, your business
could be the target of a lawsuit at almost any time.
Losses from claims may exceed the limits of your insurance
or fall outside the scope of your existing coverage.
And many claims are not reported for years, making today's
losses much more costly when they have to be paid in
protect against such eventualities, many businesses
purchase Umbrella Liability to provide extra protection
against catastrophic losses that exceed the limits of
liability insurance provided by their underlying policies.
selecting liability limits, work closely with your independent
agent to ensure that your liability coverage is adequate
and takes into account inflation, the effects of delayed
claims and the potential impact of large lawsuits and
settlements. With limits of $10 or more available, the
extra protection afforded by Protection Plan Umbrella
Liability could be a lifesaver for your business.