How Could We Possibly Connect Valentine’s Day and Insurance?

February 15, 2010

love sculpture

Happy Valentine’s Day, lovers! In which Valentine’s Day category do you belong? 

  • 15% of women will send themselves flowers on Valentine’s Day. 
  • 73% of people who buy flowers for Valentine’s Day are men, while only 27 percent are women.
  • 61% of men of all ages say they would like to receive flowers from a woman for Valentine’s Day.
  • 53% of women in America would dump their boyfriend if they did not get them anything for Valentine’s Day.
  • 3% of people give their pets a Valentine’s Day present.
  • Approximately 11% of Americans will be engaged on Valentine’s Day… *

If you and your significant other are a couple of the 11% who became engaged, congratulations and best wishes! Immediately following the proposal, your thoughts probably landed on wedding insurance, didn’t they?!  

wedding insurance
Beyond the heart, soul, passion, beauty and commitment which weddings represent lies the undeniable fact that a wedding also symbolizes an incredible financial investment.  It is not romantic, nor  is it glamorous, but a wedding must be protected like any other investment. Couples across our nation grow up envisioning their fairytale wedding; insurance is available to protect that vision. Considering the average wedding costs over $28,000—the same as a car!—more couples should think about insuring their big day like they insure their big car purchase.  

Wedding Insurance through the Wedding Protector Plan

The incredible thing about insurance is that it offers something that is so hard to find, especially when it comes to the things we value most: peace of mind. The Wedding Protector Plan from Travelers is an insurance policy that offers financial protection if certain unfortunate, unforeseen events should occur during the period leading up to and including the wedding day. Starting at $160, wedding insurance can offer that peace of mind to a bride, her groom and their families.  The Wedding Protector Plan offers a number of coverages including: 

  • Cancellation or Postponement
  • Special Attire
  • Additional Expenses
  • Special Jewelry
  • Event Photographs/Video
  • Lost Deposits
  • Event Gifts
  • Liability Insurance 

These coverages can (but are not limited to): 

  • Reimburse you if an important item related to your wedding (for example, your rings or your dress) is lost or damaged before you get married or during the ceremony.
  • Reimburse you in case you lose non-refundable deposits if a vendor (for example, your florist, photographer or caterer) goes out of business before your wedding or does not show up.
  • Reimburse your deposit if something happens to the wedding site or reception hall  (for example, a fire) before your wedding.
  • Reimburse you and pay for re-scheduling if events beyond your control cause you to postpone your wedding (i.e. weather; sickness or injury to the bride, groom, or anyone essential to the wedding; military or job duties; vendor no-show).
  • Add coverage to protect you in case someone at your wedding is injured or causes damage to the property of others.
  • Pay for damage to or theft of wedding attire, photos, videos, and gifts.  

These coverages cannot

  • Reimburse you if you or your fiancé have a change of heart 😦

Click the image below to learn more about the Wedding Protector Plan. You can also purchase insurance for your wedding online in minutes. If you would like assistance, feel free to call us at Asset Security (914-598-3004) and we can provide you with more information and walk you through the process.
Wedding Insurance through the Wedding Protector Plan 

For some more information, review the following articles: 

  • Read this article, which underscores the importance of wedding insurance and what a savior it can be: “Vendor and Venue Mishaps Top List of Wedding Insurance Claims in Faltering Economy: Majority of claims tied to wedding cancellations, bankrupt venues, no-show vendors; Travelers urges couples and parents to review insurance options.”
  • Here is an article about Wedding Insurance from the Better Business Bureau.
  • The Insurance Journal featured an article on wedding insurance, too.  

* Statistics Sources: The U.S. Census Bureau, The Diamond Information Center, Bruskin/Goldring Research for the Society of American Florists (SAF), and Hubpages.com.

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Insure Your Holiday Goodies

December 29, 2009

Tiffany&Co Diamond Necklace, Jewelry InsuranceWere you on Santa’s “nice” list this year? Did he leave you diamonds rather than coal in your stocking? Or maybe you received a timeless piece of fine art on the 8th day of Hanukkah? If you received any valuable articles for the holidays (or any time of year!) now is the time to contact your insurance specialist to be sure your gifts are covered.

One of the best things about insurance is the way that it offers something that is very hard to find: peace of mind. The key to acquiring this success is to invest time with your agent to establish an insurance policy that is perfectly attuned to the needs of your lifestyle. Your agent is the expert on insurance coverages, but you are the expert on what you have that should be covered. Your home and family grow over the years and whether you add, subtract, renovate, move, upsize or downscale to meet your needs, your insurance coverage should also change and grow with you.

Van Gogh; Fine Art Insurance

Homeowners, Condo and Renters Insurance policies provide a certain amount of personal property protection, but your coverage has limits and may not cover valuable additions. The limit on these policies refers to the maximum amount payable for each loss of or damage to unscheduled property. Unscheduled property is that which has not been specifically named  for coverage on your policy.

The scheduled personal property endorsement is available as an addition to your Home/Condo/Renters Insurance policy. For an additional premium, your policy will cover loss or damage to personal property items whose value exceeds the personal property coverage limit available under your standard Home/Condo/Renters policy.

The following is an example of the limits imposed on different categories of property and may not reflect your specific homeowner’s policy provisions:

  • $200 on money, bank notes, gold, silver, platinum, coins and metals;
  • $1,500 on securities, accounts, deeds, personal records, passports, tickets and stamps;
  • $1,500 for jewelry, watches, furs, precious and semiprecious stones;
  • $2,500 for firearms;
  • $2,500 for loss by theft of silverware, goldware and pewterware;
  • $2,500 on property at the residence premises used at anytime or in any manner for business purposes.

Other items you may want to schedule:

  • Digital, still and video cameras plus any additional equipment
  • Musical instruments
  • Fine Art (paintings, drawings, sculptures, vases)
  • Antiques
  • Sports equipment  

Stradivarius Violin; Musical Instrument Insurance

Simply, if any of your prized possessions are worth more than the limits specified on your policy, the full amount for the items will not be covered. That is when you may choose to schedule the item, or list it specifically on the policy so that it will be covered. The best way to decide if you should schedule items on your policy is to communicate your concern with an insurance professional; we can help. Call or e-mail us today: 914-598-3004 or jaime@assetsecurityrm.com. Remember, as your life changes, your insurance needs tend to change along with it.

Side note: Get a load  of this gem–it’s Saudi Prince Waleed’s Mercedes-Benz SL 600. Holy bedazzling, Batman. Are those skunks on the seats?