The Importance of Insuring Your Valuables

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.


  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. Itemize your valuables
    • 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. Market appreciation
    • 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. Appraisal / bill of sale
    • An appraisal or bill of sale is not always needed in order to itemize certain valuables.
  6. Blanket policy
    • 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. Cost of itemizing
    • 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

PREVENTING HOME FIRES

SMART INSURANCE TIPS

As the colder months approach, many of us will be using our fireplaces. It’s important to follow some precautionary measures to burn fires safely and prevent home fires in general. Here are a few safety tips:  


1. Have your chimney professionally cleaned and inspected at least once a year. Only use hardwoods and dry, seasoned wood. Keep ashes in a metal container a safe distance from your fireplace. Always use a screen and keep a fire extinguisher nearby. Never leave a fire unattended.  

2. Keep outdoor grills and barbecues away from anything that can catch fire, including deck railings or pergolas. Always keep a fire extinguisher nearby.

3. Clothing dryers are a frequent source of house fires. Clean the dryer vent regularly and the lint filter after each load.

4. Place space heaters away from curtains or other objects that can catch fire. Avoid using older space heaters which lack safety features. 

5. Always keep your stove and oven clean to avoid build-up that can ignite. Don’t leave pots and pans unattended, while cooking. Keep a fire extinguisher nearby.

6. Protect your valuable electronics, such as appliances, TV’s and computers with a surge protector – not to be confused with a power strip.

7. Make sure your electrical cords are not frayed, pinched or covered up by furniture or rugs. You can prevent electrical fires by using a “Ting” device, which alerts you to hazardous situations that need to be addressed. 

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