Proper coverage needs a proper appraisal

Proper coverage needs a proper appraisal | Insurance Business America

Proper coverage needs a proper appraisal
Valentine’s Day can mean jewellery – so it is a great opportunity for brokers to reach out to clients and suggest an appraisal of everything that glitters.

“Jewellery represents a major token of love and passion at Valentine’s,” says Christiane Fischer, president and CEO of AXA ART. “This presents a perfect opportunity to speak with collectors about protecting their jewellery, integrating the topic of valuation into the conversation, as insureds might not be aware of the actual growth in the value of the jewellery collection over time.”

Most home insurance policies include coverage of expensive items such as jewellery. However, many policies include a low limit of liability on the loss of jewelry in the event of a claim.

Opening a conversation on the subject can seem a bit awkward – but Valentine’s Day is the perfect excuse to do so, Fischer told Insurance Business.

“Insurance brokers should have conversations with their clients about the protection of their collectible assets,” she says. “The conversation could start with questions such as:  ‘Are your art and collectible items including jewellery adequately valued? How recently have you assessed the value of your valuables? Does the size of your collection warrant a quote from a specialized carrier which has the resources to review values and advise if your limits are adequate or need updating?’” (continued.)

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