How Insurance Agents Add Value to High-Net-Worth Clients

How Insurance Agents Add Value to High-Net-Worth Clients

Luxury real estate comprises the top 5%-10% of properties in a local market. Most standard homeowners insurance policies are geared toward traditional assets, meaning policy maximums may limit personal replacement when filing a homeowners insurance claim for luxury homes. Insurance agents have a unique opportunity to bring value in high-net-worth...

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Common Gaps in Watercraft & Yacht Coverage

Common Gaps in Watercraft & Yacht Coverage

An insurance agent needs to be able to identify the best policy for a client and ensure they have all the coverage they require. If they don’t read the fine print closely or gather enough information about the client’s risks, the client could end up with gaps in their coverage, leaving them vulnerable to unpaid claims.  When it comes to...

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Ice Dams: Help Your Clients Reduce Claims From This Type of Weather Damage

Ice Dams: Help Your Clients Reduce Claims From This Type of Weather Damage

Untouched snow on the roof of home looks pretty, but this winter's heavy snowstorms mixed with frigid temperatures can cause an ice dam to develop on that roof. Ice dams prevent melting snow from properly draining. This can cause serious damage to insulation, ceilings, and walls if the water seeps inside the home. ... which leads to that...

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Why FEMA Maps Can’t Determine People’s Need for Flood Insurance

Why FEMA Maps Can’t Determine People’s Need for Flood Insurance

Extreme floods are exposing issues in the Federal Emergency Management Agency's (FEMA) flood maps, according to a recent article by the Washington Post. Americans rely on these maps to warn about potential flood risks, but that’s creating dangerous situations for residents around the country as it leaves them uninformed about the potential...

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Top Trends in Super Yacht Design

Top Trends in Super Yacht Design

Super yachts differ from traditional yachts in that they're typically much longer and more spacious. … And based on all their bells and whistles, designing a coverage plan for one could get tricky. Over the years, these unique luxury yachts have undergone numerous changes, and they continue to boast state-of-the-art technology and ever-increasing...

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Understanding Types of Ownership and Insurance Coverage Options

Understanding Types of Ownership and Insurance Coverage Options

Trusts, estates, LLCs, and family limited partnerships are just some types of ownership used for properties and assets. They're gradually becoming more common because they're a good option for wealth management and the transfer of legal ownership for properties such as rental properties, personal homes, and vacation homes.  The benefits of these...

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Do Your Clients Need Condo Insurance Coverage?

Do Your Clients Need Condo Insurance Coverage?

Condo insurance protects condo owners from damages to their unit and to their personal belongings. If your clients own a condo, they may think that their condominium association master insurance policy is enough to cover their home; however, that's not the case. The master policy usually protects the exterior of their unit and other common areas...

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How the Personal Lines Insurance Sector Will Fare in 2022

How the Personal Lines Insurance Sector Will Fare in 2022

At the beginning of 2021, higher surplus levels and favorable risk-adjusted capitalization helped the Personal Lines insurance sector. The segment overcame obstacles related to current conditions and returned to pre-pandemic frequency trends, navigated increased loss cost severity, and higher than average catastrophes. As we look ahead at what's...

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The Ins and Outs of Monoline Wind-Only & Wind Deductible Buybacks

The Ins and Outs of Monoline Wind-Only & Wind Deductible Buybacks

Worsening weather conditions are leaving homes and commercial properties damaged throughout the country as they're hit by hurricanes, torrential wind and rain, and tornadoes. Even the sturdiest structures are being put to the test. With the potential for dangerous conditions increasing and the rising cost of building materials and labor,...

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Insurance Appraisals: What are Inspectors Really Looking For?

Insurance Appraisals: What are Inspectors Really Looking For?

Insurance appraisals play an essential part in determining coverage types and costs for a property. Unlike a purchase appraisal, insurance appraisals don't consider a property's market or land value like they would for the sale or refinancing of a property. Instead, inspectors conduct an in-depth assessment to determine the property's replacement...

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Why It’s Important to Do Business with an A-Rated Insurance Carrier

Why It’s Important to Do Business with an A-Rated Insurance Carrier

When considering insurance carriers, selecting a company that's fully capable of fulfilling its obligations is critical––especially if you experience a loss and need to file a claim. Like businesses in any industry, some insurance carriers are more reputable than others. So you help your clients shop for insurance, one thing to consider is the...

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Is Flood Included in Homeowners Coverage?

Is Flood Included in Homeowners Coverage?

According to the Insurance Information Institute, less than 20 percent of U.S. homeowners have flood insurance, despite floods being the most costly natural hazard in the country. Many are either unaware that their insurance policies lack flood damage coverage or underestimate the likelihood of experiencing a flood-related incident.  Under most...

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How FEMA’s First Flood Insurance Update in 50 Years Will Affect Rates

How FEMA’s First Flood Insurance Update in 50 Years Will Affect Rates

In the wake of natural disasters, a pandemic, and supply shortages, higher insurance rates are everywhere. Many living in coastal areas or in flood zones can also expect to see higher rates to insure their homes under the Federal Flood Insurance Program. The Federal Emergency Management Agency (FEMA) released new rules in the spring regarding...

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Best Ways to Protect a Wine Collection

Best Ways to Protect a Wine Collection

Nothing sets the mood for a gathering of family and friends quite like the perfect wine. Are your clients taking the necessary steps to keep their wine collection safe for years to come? Wine enthusiasts invest a great deal of time and money into their collections, so it’s an asset that should be insured, much like any other valuable collection....

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