Maloy Risk Services Private Client Group caters to high net worth individuals. Our in depth knowledge and insurer access allows us to bring the necessary products and services to our niche clientele , who require the specialized coverage not found in most insurance policies written by the direct insurers.
Home – Homes of the affluent are unique and require special handling at the time of claim. Specific insurers cater to this clientele using broader policy language than a typical home policy to address the unique needs of the policy holder.
Auto – The affluent client autos are usually the high end models. The standard auto insurers cannot provide the appropriate levels of protection or proper claims service when dealing with these types of vehicles. Replacement value and agreed value options are necessary to ensure the auto is coverage appropriately.
Fine Art – Replacement value within the home policy does not adequately protect the value of art or antiques. Scheduling the items at their appraised value provides the best protection against an undervalued claim settlement.
According to Wikipedia, fine art or the fine arts describes an art form developed primarily for aesthetics and/or concept rather than practical application. Art is often a synonym for fine art, as employed in the term “art gallery. Historically, the five greater fine arts were painting, sculpture, architecture, music and poetry, with minor arts including drama and dancing.Today, the fine arts commonly include the visual art and performing art forms, such as painting, sculpture, collage/assemblage, installation, calligraphy, music, dance, theatre, architecture, photography, conceptual art, and printmaking. However, in some institutes of learning or in museums fine art, and frequently the term fine arts (pl.) as well, are associated exclusively with visual art forms.
Jewelry – Basic limits within the homeowner policy are very low; usually $1,500 in total and $500 per piece. Scheduling the collection provides stated values through appraisal and broader coverage protection.
Classic Autos – Cars that are driven infrequently and over 15 years of age can be insured as Classic cars. These are show cars and not driven for regular use.
According to Wikipedia, a classic car is an older car; the exact meaning is variable. The Classic Car Club of America maintains that a car must be between 20 and 40 years old to be a classic, while cars over 45 years fall into the Antique Class.
Collectibles – Scheduling items provides a broader protection for valuable collections: stamps, coins, wine, baseball cards, antiques, bicycles, anything of value that you hold dear.
Umbrella Protection – Provides excess liability over the auto, home and employers’ liability section of the workers compensation.
Flood – Homeowners policy do not include flood, many have back up of sewers and drains, but flood is an excluded peril. Stand alone flood policies can be purchased to cover the home and contents.
Yachts and Watercraft – Coverage for luxury watercraft including hull and liability.
Group Personal Umbrella – Provides excess liability over the auto, home and employers’ liability section of the workers compensation at a discounted rate, often as high as 35-40% off an individually purchased umbrella. A sponsored employer program lowers the cost of personal umbrella coverage and provide limits as high $50 million in coverage.