Resolved: 3 Tips for Protecting Against Losses Before They Happen
One of the best things about the New Year is that it’s also a fresh start. It’s common for people to set goals for the New Year to better themselves or their situation in some way. One of the most common resolutions year after year, is to get more organized. Accordingly if you listen to the National Association of Insurance Commissioners, it’s the perfect time for agents to encourage customers to take a good look at their policies to ensure adequate coverage in 2013.
Your policyholders may not be aware that their big holiday gift isn’t covered under their homeowner’s insurance and will require a specialty policy. It’s important that they are aware of these circumstances before mom loses her new diamond earrings playing in the snow. This opportunity can also serve as perfect timing to create an inventory of a home or business contents. By indexing and photographing the entirety of the contents, the agent can not only ensure proper coverage but will significantly help the claims process in case of a large loss.
Tip 1: Contact your policyholders and inform them of the potential limitations within their policies, and let them know the best way to protect those holiday gifts is to forward an appraisal, retail receipt, and whenever possible, a picture of the item.
Tip 2: While you are speaking with them, it’s a good time to review any scheduled items they may have on their policy that haven’t been appraised recently. Due to fluctuations in the market, pieces of fine art, jewelry and antiques have volatile values, and it’s good practice to review the schedules yearly. Art Advisory services like Enservio Select can assist you in providing a timeline for an appraisal’s lifespan based on the respective categories.
Tip 3: It’s a task that no one likes to do, but creating a personal inventory is the best way to insure nothing is forgotten should a disaster ever strike. Explain to your policyholder that using tools like Enservio’s MyPropertyLoss.com is a fast, efficient, and easy way to capture and index all their contents.