What is “premium insurance” and why you need it.

estate insurance

What is “premium insurance” and why you need it.

Accomplished individuals have more at risk. That higher degree of risk, requires a higher level of protection.

We Plan for the “What if’s?”

No one likes to think about unexpected events like a house fire or break in, but unfortunately these events do happen.

  • How important would it be for you to be able to replace the contents of your home, such as custom flooring, special-order appliances, or your wine collection if a fire destroyed your home?
  • If thieves broke into your home while you and your family were away on vacation, how would your insurance respond in regards to your fine art collection, home automation system, or your expensive jewelry?

McSweeney & Ricci’s Private Client Group was formed to address the needs of successful individuals. We build relationships with our clients and part of our role as trusted advisors, is to examine a clients’ entire portfolio. During our holistic review, we asses each client’s level of risk, providing guidance as to the proper levels of coverage, and providing resources to help prevent loss in the first place.

Premium vs. Standard Insurance: There is a Difference

Our initial consultation with our high net worth clients, includes a discussion of the difference between traditional insurance coverage and coverage provided by our premium insurers (CHUBB, PURE, and Cincinnati).

Private Client Group Manager, Jessica Supitkowsky states, “So many of our accomplished clients are surprised to hear that there is a difference between a traditional policy and those provided by our premium partners. Successful individuals have unique coverage considerations. They are more likely to be targeted by cyber criminals, more likely to be subject to litigation, they have more to protect.”

Our premium partner, Chubb completes over 2,000 home appraisals each year and has found,

“At least 50% of homes are underinsured.”

Consider this scenario: You inherited your family estate which was built in the 1900’s. The 10,000 square foot home is complete with unique crown moldings, hand-hewn roof slates, and century old hard wood floors. During the night, a thunderstorm with Hurricane force winds, blows a large tree onto the roof. The roof is damaged, causing water damage throughout all three floors. The home was never appraised, and while the carrier agrees to pay the claim, there is only enough coverage to restore the home with standard building materials.

Simply considering the square footage of an older or antique home, will not give an adequate assessment of the coverage necessary to restore a home to its former glory. The risk managers in our Private Client Group, will call for a thorough appraisal of your property and valuables. Once your home is appraised, coverage is placed with one of our premium insurers. Your property will be insured with “guaranteed replacement cost,” which will ensure you can restore your home’s unique features with like-for-like quality.

wine collection insurance

You may own multiple homes, a garage full of rare classic cars, a wine collection, or rare pieces of art. These prized possessions require more than the limits of a standard insurance policy. Your lifestyle and the success you have earned, needs to be protected. Our Private Client Group offers you concierge-level service and the premium protection offered by our trusted partner carriers, allows you complete peace of mind.

There is a Difference. Experience it now.