Personal

May the Force of a Personal Articles Floater Be With You

According to studio estimates, the second installment in the third Star Wars trilogy reached a debut of $220 million. That gives “The Last Jedi” the second-best opening weekend ever, behind “The Force Awakens.1 ” Whether a collection of Star Wars memorabilia, jewelry, guns, fine art, wine or antiques, retail brokers and agents should discuss the value…

A Hot Rental Market Is a Game Changer for Insurance

In recent years, businesses and investors have been purchasing thousands of rental properties, especially single-family homes. Starwood Waypoint – a company launched shortly after the housing crisis – is just one such example. According to CNBC, Starwood Waypoint bought thousands of homes to renovate and today rents over 30,000 homes across the United States.1,2 While…

Identifying a Client’s Need for a High-Net-Worth Policy

It is estimated that 70 percent of individuals whose assets exceed $1 million are either underinsured or do not carry a High-Net-Worth insurance policy whatsoever. As wealth accumulation in North America continues to inflate, there are thousands of new millionaires every year. With such a budding opportunity, Insurance Market Source recruited industry leaders from its…

Are You Sitting on a Gold Mine? Header

Are You Sitting on a Gold Mine?

The number of homes valued at $1 million and above has doubled in the past five years. With this recent surge in high-value homes comes an increased need for specialized coverage. Homeowners often underestimate the value added by upgraded features such as imported tile, outdoor kitchens, custom-made cabinetry, built-in pools and custom brickwork. Consequently, many…

Prepare Clients for Hurricane Season with Five Wind Insurance Tips

In the months of June through November, areas off the Atlantic coast of the United States have the potential to be hit with hurricane force winds.1 Hurricane force winds are considered wind gusts sustained at 74 mph according to the National Weather Service. The estimated value of coastal properties that are vulnerable to hurricanes exceeds…

5 Reasons Why Regular Homes May Need Specialty Insurance

Those not normally affected by natural disasters—hurricanes, earthquakes, and floods—may never expect their homes to be deemed hard-to-place risks. Insurance brokers and agents, however, should understand a different story. Many brokers are finding homes and risk profiles that no longer meet the eligibility requirements of standard market carriers. It is important that when faced with the…

Vacant Dwelling Coverage: Uncovering Challenges and Finding Opportunities

Approximately 12.9 percent of residences, more than 17 million housing units, were vacant in 20151—many of which sit unprotected today. The window of opportunity for retail brokers and agents to speak to clients about Vacant Dwelling insurance is wide open. However, some brokers may think this coverage is difficult to sell for varying reasons, including…