Travel Insurance Tips

Interior view of a house under construction home framing
SMART INSURANCE TIPS

The summer season is a popular time to take a vacation. Travel insurance is a good way to protect yourself and your family from a host of things that can go wrong before and during trip. 


Travel policies can be tailored to your specific needs and are surprisingly affordable. Here are some benefits that you can include in your policy to make sure you are well protected:

1. Trip cancellation and trip interruption coverage that will reimburse you if a covered event like illness, injury or inclement weather occurs.

2. Trip delay coverage for meals and temporary lodging if a covered event delays your trip.

3. Medical evacuation to get you or a family member home or to a hospital quickly in case of emergency.

4. Political evacuation to help you exit your destination country in the event of a crisis.

5. Coverage for personal effects if your baggage is damaged, delayed, lost or stolen.

6. 24-hour concierge assistance that can help you with a variety of issues during your trip.

For more information contact: 
Christopher F. McDonald | Amaden Gay Agencies
P.O. Box 5004 | 11 Gay Road | East Hampton, NY 11937 | P 631.324.0041 ext. 341 | F 631.324.0671 | cmcdonald@amadengay.com

The Importance of Itemizing Your Valuables

Interior view of a house under construction home framing
SMART INSURANCE TIPS

 Valuable collections and unique personal items almost always need their own insurance for proper protection. It’s important to have a discussion with your insurance broker whenever you acquire valuables ranging from fine art, antiques, jewelry, and musical instruments to silverware, wine, stamps and coins. By scheduling your valuables, you’ll be in a better position in the unfortunate event of a loss.


Here are a few tips and things to be aware of:

1. Homeowner insurance provides protection for “personal property,” intended for things that can be easily replaced, such as clothing or furniture. However, your homeowner policy’s coverage for valuables is more limited, and your deductible applies to all claims.

2. By itemizing your valuables on your insurance, you’ll get coverage for an agreed value on each item, and no deductible applies.

3. Coverage is broader when valuables are on their own policy. For example, jewelry on a valuable collections policy can be covered for “mysterious disappearance” or breakage, both of which are excluded on homeowner insurance.

4. Some policies even include coverage for “market appreciation,” in the event that covered valuables have appreciated above the agreed values stated on the policy.

5. An appraisal or bill of sale is not always needed in order to itemize certain valuables.

6. Rather than Scheduling your valuables, you can cover them on a “Blanket” policy, which does not require itemization. Only the total value of your collection is needed, as well as the value of the most expensive piece.

7. The cost to itemize assets like art, antiques and wine is surprisingly inexpensive.

For more information contact: 
Christopher F. McDonald | Amaden Gay Agencies
P.O. Box 5004 | 11 Gay Road | East Hampton, NY 11937 | P 631.324.0041 ext. 341 | F 631.324.0671 | cmcdonald@amadengay.com