This week’s Claims Corner is brought to you by our very own Claims Manager Kathryn Dorn. Let us know what you think; questions are always appreciated!

Do you know how much your jewelry and family heirlooms are really worth? For most people, those special items are packed with precious memories and sentiment – the kind of value that’s irreplaceable.

It’s also extremely hard to quantify.

The first step in protecting your valuables is with a comprehensive insurance policy and getting them properly appraised. You’ll be surprised at how much peace of mind comes with making sure your items have been accurately valued and insured.

How do you know where and how to get an appraisal? Who do you turn to when it’s time to place a dollar value on something so difficult to measure?

First, find the right type of appraiser and make an appointment. The kind of appraiser you need to look for is determined by what you are having appraised. So, it’s not news that to appraise your gems and jewelry you’ll want to find…a gems and jewelry appraiser! The National Association of Jewelry Appraisers provides a helpful and informative database where you can find links to appraisers for all of your jewelry needs.

For personal property like art, antiques, all kinds of collectibles, cars, guns, home contents – you need (you got it!) a personal property appraiser, The American Society of Appraisers can help in your search.

Next, it’s time for an in-person meeting. Bringing your valuables in for a visual inspection and appraisal is a required step in the process. It can be a little unnerving to carry your precious items with you therefore if you feel the way we do (we’re all about minimizing risk – go figure) ask a friend or family member to accompany you. If the item is too large or awkward to transport, appraisal professionals will come to you to get the job done. When the appraisal is complete you’ll be handed certificates that verify the value of your items. Store the certificates in a safe place – preferably a fireproof lock box.

Then get a quote. Now with your documentation you can now talk to your agent about the options available for coverage. Give us a call and we’ll be happy to talk to you about your choices. And even if you don’t buy from us, please take the time to make sure all your heirlooms and possessions are adequately insured. You should update your appraisals every 5 years to stay current.

Remember, we’re here to help clarify all things insurance. Follow us on Twitter to learn more about the risks you face every day and how to avoid them, and let us know what’s on your mind.

If we (insurance carriers) are going to make sense of the property and casualty insurance industry, the educational process must start with you (the consumer) – understanding what you purchased from your local independent agent.

The first obvious answer is that you purchased financial security for you and your family should a catastrophic event occur.

The next obvious answer is that you purchased peace of mind, knowing that you are protected from common everyday occurrences such as water and fire loss. (Or, maybe the peace of mind comes from knowing you are protected if an injury occurs on your property, or your dog bites the mailman and you get sued.)

Now, here’s the most important part: the part about what you purchased and didn’t even realize you were purchasing.

Few consumers actually know that the insurance policy is a legal contract. (Contracts are legally binding and enforceable agreements that contain the duties and obligations of all parties to that contract.)
You purchased the conditions, the duties, and the obligations that come with the insurance policy. We sold you conditions, and duties, and obligations that come with the insurance policy.

That’s right! We sold you a commitment and you purchased responsibility.

So…your question is What responsibilities did I purchase?

Well, simply put and with no intention of condescending, the first step in being responsible is reading your policy. The insurance policy does not provide absolute financial security or absolute peace of mind. But you may never know that… until you read your policy. How can you augment your policy with the necessary riders /endorsements unless you read and understand what you purchased?

As an experienced claim professional, I would be retired by now if I had a dollar for every time policyholders shared that they have never read their policies.

Unfortunately, these comments generally come after they experience loss and find out the loss is not covered under their policy, but could have been covered through other means – had they read the policy.

Please understand, I am not bashing or blaming you, the consumer; rather, I want to help further educate and inform you. We as insurance professionals have not always done the best job of speaking clearly and providing you with information that is in plain English. We all know education is free, but not always easy. Too often, we the carrier and you the consumer learn only after something has hit us in the pocketbook.

Which reminds me of the purpose of these blog entries: We want to help you keep your money in your pocket through better understanding of the insurance contract and what you can do to prevent loss.
Check in with us here as we explore the insurance contract deeper. I’ll speak to the duties and obligations of the policyholder in greater detail. Let me help educate you on what the insurer’s duties and obligations are.

We have commitments to you we have to keep and want to keep. I am confident that as we continue to share ideas and thoughts, you’ll know how to better protect your property and valuables, and we will insure a better risk.

It is no secret that we want to retain you as a customer. The true goal we want to maintain you as partner!

Claims Corner, brought to you by Bankers Insurance Group, covers one important and often overlooked point about insurance and risks we face every day. Our experts help you make the right choices and avoid common pitfalls when dealing with insurance. Read the weekly tip and join the discussion in the See Through Insurance blog comments, on the Bankers Insurance Group Facebook page or on Twitter.

Getting a good appraisal is key before disaster strikes … You’ll have peace of mind and financial recourse should the unthinkable happen.

This week’s Claims Corner is brought to you by our very own Claims Manager Kathryn Dorn. Let us know what you think; questions are always appreciated!

Imagine something really scary – you come home to find you’ve been burglarized.

A million things go through your head all at once.

Now, fast forward. Police have investigated. Your nerves have settled (mostly). You’ve inventoried your missing items and life is getting back to normal…and you realize that you only have $1500 coverage for jewelry loss!

Of course, some items can never be replaced due to their sentimental value. But there is no reason not to be fully protected for everything else.

The cost of not knowing what coverage you have chosen can be very high…take the time to learn what protection you already have in place, and let your agent help you determine what else you need to be really covered.

If you have jewelry worth over $1000, get an appraisal. (Your agent can advise and assist here, too.)

The job of your insurance is to put you back to where you were before the loss. Your agent is here to help.

Stay tuned for more in the coming weeks as we continue the appraisal discussion. For now look into your coverage and make sure you are protected.

Claims Corner, brought to you by Bankers Insurance Group, covers one important and often overlooked point about insurance and risks we face every day. Our experts help you make the right choices and avoid common pitfalls when dealing with insurance. Read the weekly tip and join the discussion in the See Through Insurance blog comments, on the Bankers Insurance Group Facebook page or on Twitter.