For a nationwide private client homeowners policy, you can get many options. These policies can cover things like heirlooms, spoiled wine, libel, and personal injury. Some private client insurance companies offer additional services like home appraisals to identify safety features in your home that qualify for policy credits. Some policies also cover additional living expenses, including boarding pets for those in need. If you need to evacuate your home, a private client insurance company can even provide temporary housing.
Coverage for heirlooms
The sentimental value of family heirlooms may be high enough to justify the purchase of a jewelry rider. Likewise, high-value jewelry and priceless heirlooms may be worth several hundred dollars. A standard homeowners insurance policy does not cover water damage caused by a backed-up sump pump or water drain. Bringing your property up to code can cost a lot of money, so consider adding a jewelry rider to your policy.
Homeowner insurance for heirlooms offers several advantages. Among these benefits is the coverage for high-value items like heirlooms and jewelry. In addition to protecting your high-value items, homeowners insurance can also cover your living expenses in case your home is not habitable. It’s worth looking into if you have this valuable coverage. You’ll be glad you did.
Coverage for wine spoilage
For collectors and investors with extensive collections of fine wines, it is important to have the appropriate insurance policy. Although most homeowners policies include coverage for wine spoilage caused by a power outage, they don’t cover the other many risks associated with wine collection ownership. Fortunately, there are policies available that specifically address wine-related risks. Regardless of the type of wine collection owned by an insured, it is important to speak with a knowledgeable insurance consultant about the best options for coverage.
Nationwide Private Client offers coverage for new and used wines. Wine is usually valued at about $5,000. This coverage is up to 25% of the total itemized coverage. Other possible loss situations include breakage, mechanical breakdown, and climate control system failure. In some cases, insurance companies will cover wine spoilage due to theft, breakage, or a failure in the climate control system. In addition, they can cover wine while it is in transit.
Coverage for libel
One type of personal liability insurance policy that is often overlooked is personal offense coverage. Personal offense coverage pays for lawsuits for libel, slander, defamation of character, invasion of privacy, and more. If you’ve ever suffered a lawsuit based on something you wrote or said, you may want to consider adding this coverage to your homeowner’s insurance policy. In many states, it’s mandatory to carry this type of liability insurance, but it’s a relatively minor exclusion.
Coverage for personal injury
If you own a business, you should consider a personal umbrella liability insurance policy. Personal umbrella liability insurance offers coverage above and beyond the limits of your main homeowner’s policy. Medical payment coverage is available to pay for immediate medical care of guests on your premises. Another smart choice is ordinance or law insurance. This type of policy pays for rebuilding a damaged property according to current building codes. These are important coverage options, particularly for older homes.
While your standard mass market/standard insurance provider offers a low deductible, you may need more protection when it comes to liability limits. Coverage for personal injury on a nationwide private client homeowners policy can range anywhere from $1 million to $50 million. You should always consult with your insurance agent to discuss coverage options and limitations. Additionally, Nationwide Private Client offers excellent claims service. You can also save money on liability limits.
Renters insurance covers the personal possessions of tenants. Homeowners’ policies do not cover the liability of renters. However, a Nationwide Private Client homeowners policy may also extend to rental property. A Nationwide Private Client homeowners policy can cover a secondary rental home or a separate structure on the owner’s property. In addition, a Nationwide Private Client homeowners policy can cover liability on rental properties.