We are seeing an increase in burglary and theft claims reported by our clients. Thieves are targeting quick cash items such as jewelry and silverware. We would like to remind you that your homeowner policy has a specific limitation (generally $1000-$5000) for theft of jewelry, silver, silverware, gold, etc. These limits can be increased on specific items by scheduling them, depending on your individual needs.
We are also seeing an increase in fire claims throughout the state. We encourage you to review the property limits for your home and any additional structures you have. While we recognize real estate “market value” has declined for most of us, “actual replacement cost” of structures has not. Contractors are advising that building materials and costs are not declining. “Insurance to value” remains a very important issue.
Our goal is to help you identify risks and exposures and offer a solution before a loss, not after. The choice is yours whether to insure or self insure your risk.
As always, please don’t hesitate to contact us with any questions or to discuss further.