Our underwriter offers exclusive Risk Management Services to complement the insurance offerings, including
| Coverage Feature |
What it Means |
Why it Matters |
| All-risk Coverage |
Protects against property damage or loss regardless of cause |
Broadest coverage in the industry |
| Cash Settlement Option on Contents |
Option to receive a cash settlement in lieu of replacing lost or damaged property |
Flexibility at time of loss |
| Total Loss Cash Settlement Option |
Option to receive a cash settlement up to the coverage limit, rather than rebuild on the site |
Flexibility at the time of loss |
| Guaranteed Rebuilding Cost for dwelling |
No caps or limitations for rebuilding |
Rebuild to match exceptional building quality, historic homes and unique structures |
| Replacement Cost for Contents |
Damaged personal property can be replaced with new items |
Reimburses up to the coverage limit without depreciation |
| High Deductible Options |
Deductibles available up $100,000 |
Assuming more of the up-front risk can result in meaningful premium savings |
| Other Structures and Personal Property |
Standard Limits: 20% of dwelling coverage for other structures and 50-70% of dwelling coverage for personal property; limits can be adjusted as needed |
Flexible limits for more precise coverage |
| Building Ordinance Increased Costs |
Pays for required upgrades to satisfy local building ordinances when rebuilding property damaged by a covered loss |
Accounts for mandated increases and rebuilding costs up to the policy limit |
| Additional Living Expense and Fair Rental Value |
Unlimited overage for necessary increases in living expenses incurred when the home is uninhabitable due to a covered loss; includes loss of rental income |
Policyholder can maintain a comparable standard of living while displaced from the home |
| Additions and Alterations |
Combined with personal property coverage and into one aggregate limit for condos and co-ops |
Allows for seamless coverage; simplifies claims process |
| Personal Property Away from Premises |
Reimburses up to the highest content limit for any single location on the policy; responds if loss occurs away from any residence the insured owns or lives in |
Worldwide protection for belongings; no limitation for loss from a car, hotel, etc. |
| Back-up of Sewers and Drains |
Compensates for physical damage caused by the backup or overflow of sewers, drains or sump pumps located at your residence |
Water-related damage is one of the most frequent and costly causes of loss |
| Damage Caused by Domestic Pets |
Included for the dwelling, other permanent structures and personal property |
Typically excluded from most homeowners policies |
| Landscaping Coverage; Increased Limits |
Available with increased per item and coverage limits |
Broad, flexible coverage is ideal for those with elaborate gardens or other landscaping |
| Property of Domestic Staff and Guests |
Applies to any residence |
Added protection for guests and live-in staff |
| Food Spoilage |
Provides reimbursement up to the contents limit for spoilage due to temperature changes |
In addition to spoilage resulting from the interruption of power, coverage responds to mechanical breakdown of refrigeration equipment |
| Increased Loss Assessment Coverage |
Covers insured’s share of property assessment |
If insured is a member of a homeowner’s or condominium association, coverage protects his/her share of the assessment |
| Fire Department Charges |
Reimburses charges imposed by law or assumed when fire department responds to a covered residence |
Insured does not need to worry about out-of-pocket expense |
| Lock Replacement |
Responds if the keys to a covered residence are lost or stolen |
Insured does not need to worry about out-of-pocket expense |
| Identify Fraud Expense Coverage (Optional) |
Responds in the event of identity fraud |
Identity fraud is one of the country’s fastest-growing crimes |
| Waiver of Deductible (Optional) |
Deductible of $25,000 or less waives on losses greater than $50,000 |
Minimizes out-of-pocket expense in the event of a significant loss |
Mass-market insurance providers are not designed to address the unique qualities of historic properties. With Private Client Group distinguishes itself by offering a broad range of comprehensive homeowners’ coverages and the flexibility required to effectively protect historic residences, including:
| Coverage Feature |
What it Means |
Why it Matters |
| Worldwide Coverage |
Personal injury (including libel and slander) and property damage; unlimited owned and non-owned vehicles, homes and watercraft |
Coverage responds at home and abroad |
| High Limits |
Up to $100 million; available in increments of $1 million |
Flexibility for limits and precise coverage |
| Uninsured/Underinsured Motorist Coverage |
Covers accidents in these cases; up to $10 million available |
Flexibility for limits and precise coverage |
| Panel Counsel |
In event of a covered lawsuit, choice of representation from a nationwide network of preeminent defense firms |
Carriers typically do not permit personal involvement in one’s defense |
| Expanded Defense Coverage |
One’s personal attorney can participate in the defense strategy and be reimbursed for reasonable expenses |
Allows policy holder to play an active role in his/her defense |
| Employment Practices Liability Coverage (Optional) |
Covers up to five resident employees; $25,000 for public relations “crisis fund” |
Protects against allegation of employment-related discrimination, sexual harassment or wrongful termination made by private staff |
| Charitable Board Liability Coverage (Optional) |
$1,000,000 of protection on top of existing board coverage; for named insureds who serve on up to five eligible not-for-profit boards |
Protects personal assets when board liability protection is depleted |
| Coverage Feature |
What it Means |
Why it Matters |
| Worldwide Coverage |
Covers loss/damage while traveling/in transit |
Facilitates travel with fine collectibles and covers purchases made abroad |
| Newly Acquired Items |
Automatic coverage |
Acquisitions protected at the time of purchase; grace period before adding items to the policy |
| Care, Custody and Control |
Provides up to $1 million |
Facilitates taking items home on loan before confirming purchase |
| Valuation Clause |
Covers agreed value or current market value, up to 150% |
Protects against market volatility; benefits those with well-managed, closely monitored collections |
| Repair and Restoration Coverage |
Available upon request |
Helps preserve value |
| Wine Coverage |
Covers damage due to mechanical and/or electrical breakdown of heating, cooling or humidity control systems |
Wine cellars/refrigeration systems may malfunction and cause irreparable damage |
| Jewelry Roll-on Coverage |
Automatic inflation added to jewelry values at renewal |
Necessary to maintain insurance-to-value |
| Pair or Set Clause |
Insured’s choice whether to repair, replace or surrender undamaged items |
Flexibility at the time of loss |
| Transit via Common Carrier |
FedEx and parcel post covered; US mail covered up to $10,000 |
Transit protocol and shipping/packing advice available; Collection management experts can oversee transit |
| Coverage at Exhibitions |
Protects pieces during transportation to/from exhibitions and while on display |
Security and peace of mind during transit and exhibitions |
| Coverage Feature |
What it Means |
Why it Matters |
| Unlimited Capacity |
Includes physical damage to collector cars, regular-use automobiles and specialty vehicles such as motorcycles and recreational vehicles |
Virtually unlimited number of vehicles per policy |
| High Liability Limits |
Provides up to $1 million combined single limits of $1 million/$1 million split with matching uninsured/underinsured motorist limit |
Adequate levels of coverage for high-value vehicles |
| Agreed Value |
Automobile is insured for an agreed-upon amount; deductible is waived in the event of a total loss |
Facilitates claims settlement |
| Original Equipment Manufacturers Parts |
If repairs must be made, only original manufacturers’ parts will be used |
Maintains standard of quality |
| Transportation Expense and Temporary Emergency Living |
Provides up to $5,000 with no per day limit; temporary emergency living expenses up to $500 if a loss occurs more than 50 miles from customary garaging location |
Insured may rent a vehicle of comparable value while owned vehicles is repaired/replaced |
| Towing and Labor; Choice of Repair Shop; Loan/Lease Gap Coverage; Worldwide Liability; Lock Replacement; Airbag Deployment |
Package of additional coverage is built in at no expense to the policy holder |
Closes coverage gaps and facilitates claims settlement |
| Coverage Feature |
What it Means |
Why it Matters |
| All-risk Wording |
Accounts for fine art, precautionary measures, additional living expenses |
Broadest coverage available; accounts for virtually all risks |
| Consistent Coverage |
Same degree of coverage for vessels of all sizes; no disadvantages for smaller vessels |
Adequate coverage for all vessels |
| Worldwide Navigational Limits |
Predefined or worldwide navigation based on member’s specific cruising plans |
Dependable coverage for global voyages |
| High, Flexible Limits |
Available for both Hull and P&I limits |
Capacity for large vessels; limits tailored to meet individual needs |
| Flexible Deductible Options |
Can adjust deductible to suit the individual owner’s risk retention needs |
Assuming more of the up-front risk may result in meaningful premium savings |
| Pollution Protection |
Full P&I limit coverage for pollution; additional coverage for marine environmental damage |
Increased environmental scrutiny and tighter regulations have led to growing pollution liability costs |
| Crew Coverage |
P&I coverage for crew claims under the federal Jones Act |
Mandatory coverage |
| Automatic Coverage for Newly Acquired Vessels |
Provides immediate Hull and P&I coverage for newly purchased tenders or vessels |
Acquisitions protected at the time of purchase |
| Product |
Description |
| Insurance for Family Offices |
- Ability to handle independent and multifamily offices
- Errors and omissions
- Professional liability
- Directors and officers liability
- Employment practices liability
|
| Kidnap and Ransom and Extortion Coverage |
- Limits to $50,000,000
- Includes ransom, extortion, wrongful detention and hijacking
- Pre-incident consultation and training
|
| Aviation |
- Coverage for jets, helicopters and other privately owned aircraft
- High limits of liability and physical damage
- Coverage for hangars and private runways
|
| Employment Practices Liability Coverage |
- Standalone policy for insureds whose private staff exceeds five employees
- Limits up to $1,000,000/$1,000,000 and $2,000,000/$2,000,000
- $25,000 crisis fund available
|
| Workers’ Compensation |
- For insureds who employ private staff
- Nationwide coverage
- One policy for all staff
- Limits up to $1,000,000
|
| Group Excess Liability Insurance |
- Employer-sponsored personal umbrella coverage for high net worth employees
- Potential sponsors: Fortune 500 companies; law and accounting firms; banks, private equity or money management firms; large family offices
- Higher limits (up to $50 million)
- Discounts from individually purchased coverage
- Ease of use; no need to notify insured or pay additional premium as belongings or individuals are added to the policy
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