In today’s economy, a home’s market value, or what it would sell for, is often much lower than what it would cost to rebuild. In fact, over the past several years home replacement costs have increased while market values have decreased. This informative video demonstrates the importance of insuring your home to the proper value so that you have enough insurance to rebuild your home to its previous condition in the event of a loss:
An innovative new approach to simplify renter’s insurance for landlords and property managers is now offered by Chicago-based Parr Insurance Brokerage through Burns & Wilcox. Called Suite Protector, the web-based platform provides guaranteed acceptance for tenants in approved communities, quick coverage and instant notification for tracking activity.
“Making sure tenants are insured is a time-consuming and often cumbersome task for rental property managers,” said Melissa Neis, vice president of Parr Insurance Brokerage. “The Suite Protector online resource makes it easy for landlords to track tenant insurance, and provides a source of recovery to the landlord for property damage, and to the tenant for personal property.”
Tom Neis and Melissa Neis Wittenborn of Parr Insurance Brokerage recently visited underwriters in London, England regarding the launch of Collect & Protect in the USA. After a tour of the famous “inside out building” that houses Lloyds, Tom and Melissa were able to meet the UK Collect & Protect team in person to discuss some of the exciting and usual requests that they have received in the British marketplace. Collect & Protect happily considers unusual requests to insure valuable property and memorabilia. The company has considered a museum of water and insured a 30-foot plastic gorilla in transit and at a collecting event in England. The program recently had the exciting opportunity to underwrite Michael Jackson’s Thriller jacket for $1.8 million dollars. It did, however, turn down a private zoo in the UK with a history of escaping elephants, deer and monkeys.
Collect & Protect is a cutting-edge insurance program designed exclusively for collections and memorabilia markets. Policies can be arranged for Museums, Galleries, Auction Houses, Dealers and Memorabilia Retailers. Collect and Protect provides unique specialist insurance policies designed by British based collectors and historic British insurance providers. Parr Insurance Brokerage is excited to be on the front lines bringing this exciting and state-ofthe- art coverage to US collectors.