Some risks need a more specific conversation
Standard home or business policies may apply limits, exclusions or valuation methods that do not fit a valuable collection, specialized equipment or a one-time event. Specialty insurance begins by documenting what is being protected and how it is owned, stored, used or transported.
Information that helps
- Current appraisals, inventories and photographs
- Purchase records and ownership details
- Storage, security and transportation arrangements
- Frequency and type of use
- Existing policy wording and applicable limits
The guides listed above outline useful questions for several specialty risks. Coverage availability varies by insurer and may require appraisals, risk-control measures or specialist underwriting. Westoak can help determine what information is needed and compare options available through the brokerage.
Start with ownership, value and use
Use the jewelry guide for individually valuable pieces and the fine-art guide for works whose valuation, storage or transit needs closer attention. Broader groups of objects may fit the collections guide, while bottles and cellar conditions are addressed in the wine insurance guide. Bring the current home or business policy too, so an advisor can identify existing limits before discussing separate or scheduled coverage.