Long-Term Care Insurance

When Was the Last Time You Reviewed All Your Insurance Policies?

In June, “Insurance Awareness Day” is set aside as a day to review one’s insurance policies. When reviewing your files, consider any changes that may have come about in your life. Do you need to purchase more coverage? Over the years, we have discovered some of our clients did not have adequate coverage for their needs. Here are their stories: 

Homeowners Insurance 

Rita, Jennifer, and Sharon all had homeowners insurance for their co-op apartments, but the extent of the coverage was limited. They each had bought insurance when they purchased their co-ops, but as the value of their property increased, they had not increased their insurance. In addition, artwork by fledgling artists that they bought or had been given years prior was now worth a great deal. Rita’s beautiful Chinese print was damaged by vendors working in her home.  Unfortunately, there was no way to get reimbursement from the companies and her home insurance did not cover the repair. She would have needed insurance for specific art pieces. 

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