Montgomery and Associates recognizes that affluent individuals purchase items of rarity. Unfortunately 83% of the population does not protect these assets properly. Valuable belongings, such as jewelry, furs, fine arts, antiques & collectibles, are provided very limited coverage under the homeowner’s policy. A simple solution does exist to protect these assets against financial loss, a personal articles floater.
Personal Articles Floater Options:
We offer two unique ways to provide protection for our customer’s items of rarity. We offer a blanket, catch all, solution as well as an itemized, scheduled, approach.
· Provide a catch all program for smaller items. Typical blanket options have a maximum per item limit.
· Individual items are listed for a predetermined value.
By scheduling your valuable articles, you can avoid the coverage limitations of the homeowner policy and receive the following additional benefits:
· Agreed value settlement for a covered total loss - you won’t be required to repair or replace scheduled items.
· Market appreciation - whereby you may also receive up to 150 percent of the insured amount of an item if it costs more to replace it at the time of loss.
· Worldwide coverage.
· Coverage for breakage of fragile items and porcelains.
· Automatic coverage for newly acquired items, in some cases up to 90 days.
When tragedy strikes your valuable possessions, your homeowner’s policy may only cover a small amount, or nothing at all. That’s why it is Montgomery and Associates Private Client Services recommendation to implement a personal articles floater inventory that incorporates a mixture of blanket and scheduled items.
To learn more connect with a Montgomery and Associate Private Client Specialist today.
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