How to Insure Valuables: Fine Art, Wine, Jewelry & More

How to Insure Valuables Fine Art, Wine, Jewelry & MoreHow to Insure Valuables: Fine Art, Wine, Jewelry & More

As Hurricane Sandy rolls past the east coast, residents are grieving over the loss of their valuable possessions. Even as families pack up their luggage and travel to different destinations, they often leave their home and their valuables susceptible to theft. Although your home is covered by homeowners insurance, your valuable possessions inside may only be covered by a small amount. Valuables may mean many different things to many different individuals, some find the value in sentimental objects and some find it in monetary objects. However regardless of your definition of valuable, you need to be aware and educated with the best ways to insure your valuables.

Nobody wants to see their fine art, wine, jewelry, exotic car, or silverware stolen only to find out that it cannot be replaced. Because general homeowners insurance does not cover very much of these valuables, you will need to speak with an agent and purchase additional coverage. The most common policy on how to insure valuables is the personal articles floater (PAF). Although PAF varies with every carrier, it generally means it is a separate or supplemental policy added to your homeowner policy in order to protect your valuables against theft or damages.

When purchasing a PAF you will need to create an inventory which includes the name of the item, a picture and its monetary worth. In order to compute the item’s value you may have an appraiser look and examine it. Although this may seem costly, it will ultimately it will be very beneficial in the event of a loss. This will ensure you scheduled value of the possession when filing a claim.

There is also blanket coverage which is often recommended for smaller possession, such as a less valuable piece of jewelry. If you do decide to purchase blanket coverage instead you do not need your possessions to be appraised. However, blanket coverage does not guarantee that you will be covered for the full amount you purchased the item for.

Sinclair Insurance welcomes the opportunity to sit down with you and tell you more about the special programs we can develop just for you. At your convenience, please feel free to call us at 203.265.0996, email us, or return the form on this page.

How Your Manufacturing Business Can Go Green

How Your Manufacturing Business Can Go GreenHow Your Manufacturing Business Can Go Green

In the beginning of the  “Green” campaign it seemed like liberal politicians and a minuscule amount of concerned citizens were the only ones pushing for change. However, that is no longer the case. People started to become concerned about the environment and have taken the initiative to decrease their carbon footprint. Most industries followed and have become environmental conscious. They are taking responsibility in creating a greener Earth. The manufacturing industry has now evolved to an eco-friendly dominant business instead of a trend. These manufacturers have acknowledge that “going green” does more than help the environment, it is also a great cost-effective strategy.

Many individuals assume that the manufacturing industry’s ability to “go green” is nearly impossible, as they are known for putting emissions into the air to produce their product and consuming about 25% of the energy the United States uses each year. The very nature of manufacturing causes pollution because they have to obtain energy through coal, natural gases, oil, and waste (key elements of dangerous greenhouse gases). Here are ways for manufacturing plants to “go green.”

  • Recycle: Although this seems like a small step, it drastically improves the environment. First implement a recycling rule and have your employees throw all their recyclable waste into bins. Second, acknowledge that many of your finished products such as ink cartridges, paper, and old cell phones are recyclable. Try finding alternative ways to reuse these products in order to keep the waste in our landfills minimal.
  • Use natural products: If you are able to afford it, try to make your products from raw ingredients that are free of chemicals. These natural products may also be used for packaging your products. Using recycled products will reduce waste and it will also be more cost-effective.
  • Stop using hazardous chemicals: Avoid chemical conditions, chemical anti- bacterial and preservatives. They usually end up in our landfills.
  • Alternative source of energy: It is now much easier and accessible to find alternate ways to obtain energy because of our advanced technology. Find a cleaner substitute that will lower air pollution.

Sinclair Insurance has more than four decades helping clients understand the risks associated with their manufacturing operations and designing a customized risk management plan to protect the future of your organization. We’ll provide you with solutions that make a difference to your profitability – today and for years to come. Give Sinclair a call at 203.265.0996 for more information about our Manufacturing insurance programs.

Energy Dealer Insurance: The Pros and Cons of Solar Energy

Energy Dealer Insurance The Pros and Cons of Solar EnergyEnergy Dealer Insurance: The Pros and Cons of Solar Energy

If someone were to ask the American population of 1990 their opinion of solar energy, many individuals would say that it was unnecessary. However, years have gone and America has been able to experience the changes our world has been going through. According to a recent poll done by Sungevity illustrated that nearly 9 out of 10 American adults believe solar energy should play a bigger role. They even went as far as surveying if political parties affected their perspective on solar energy. However, 81% stated that regardless of their political affiliation, solar energy should be used in state and federal residences. Although the majority of Americas acknowledge and agree with the benefits of solar energy, there are still disadvantages we need to be aware of. Are you in the industry of energy? We would love to quote you with Energy Dealer Insurance. Give us a call today – (877) 602-2305

Here are the pros and cons of solar energy.

Pros:

  • No Pollution:  If more individuals were to use solar panels, essentially our air would be free of carbon dioxide, nitrogen oxide, sulfur dioxide and mercury.  Unlike its counterparts, solar power does not burn fuels or generates emission. We would only have a minimal amount of pollution due to the manufacturing of solar panels.
  • No Noise: Because solar energy produces electricity our world would be less quiet compared to the loud noises fossil fuel and wind turbines produce.
  • Cost efficient:  Although it may be costly to install solar panels, it will ultimately save money because the operation of solar panels use little energy.
  • Renewable: Throughout the past few years, America is starting to realize that we are running out of resources and we need to start creating alternative resources. Solar energy is sustainable and renewable. As long as the sun is shining (NASA has predicted this to be another 6.5 billion year), we will have solar energy

Cons:

  • Cost: The major con of solar energy that has pushed away a lot of Americans is the initial cost of solar cells. However, the investment is well worth the initial cost.
  • Climate:  While solar energy can be used during most weather conditions, it is not effective when it’s overcast. This variability forces us to depend on other resources as well.
  • Sunlight: Unfortunately, solar energy is ineffective when there isn’t any sunlight. This means that solar panels would only be beneficial during the day time.

Sinclair Risk & Financial Management offers a customized, comprehensive risk management and insurance program for Energy Dealers to protect businesses from risks of financial loss. Our staff’s knowledge of this complex and ever-changing industry helps us identify and protect against the exposures your unique operation encounters. We’ll help you balance your obligations to the environment, community, and company’s bottom line. Give Sinclair a call at 203.265.0996

New Chrysler Commercial Vehicles of 2013

New Chrysler Commercial Vehicles of 2013New Chrysler Commercial Vehicles of 2013

In 2009, the nearly century old company founded by Walter Chrysler merged an alliance with Italian manufacturer, Fiat. This collaboration formed the Chrysler Group LLC. Although Fiat holds a majority of the company, this relationship has ultimately improved Chrysler’s sales. When the nation’s economy plunged, automakers’ sales sunk too. Chrysler was not the exception; from 2006- to 2009, they were struggling to boost up their sales. However, in 2010 they started to see progression and have since then substantially increased their sales figures. In fact, their car sales rose 27% and when comparing September 2012 to September 2011 numbers, they climbed 12%. Chrysler’s head of U.S. sales, Reid Bigland is very confident in their position in the vehicle sales industry. This optimistic and promising outlook has pushed Chrysler to become commercial. Chrysler’s transition includes a new commercial-truck division. Chrysler becomes commercial with the intention of broadening their audience to fleet buyers and small business owners. The new Chrysler commercial vehicles of 2013 has implemented new features to the Dodge Ram truck brand in order for commercial buyers and fleet buyers.

New Chrysler Commercial Trucks of 2013:

  • Improved tailgate camera: This is designed to connect images from the car’s 8.4 inch screen and the camera mounted on the rear. This will make it easier to hookup trailers.
  • Redesigned Frame: Chrysler has constructed a frame made up of high-strength steel. They also offer an optional fifth-wheel or gooseneck hitch mount.
  • Improved towing capacities: Chrysler becomes commercial by revising their steering and suspension systems.
  • Improved Engine: Their current model produces 350 horsepower at 3,000 rpm and 800 pounds-feet of torque. However, in order for Chrysler to become commercial they have increased their engine by producing 370 horsepower at 2,800 rpm and 850 pounds-feet of torque.

Chrysler becomes commercial in hopes of becoming the lead car manufacturer. These new vehicles will become available in 2013.

We can provide coverage for many types of business vehicles for your business. Give Sinclair a call at 203.265.0996 for more information about our commercial auto insurance programs.

Fine Art Insurance: Investing in Fine Art

Fine Art Insurance Investing in Fine ArtFine Art Insurance: Investing in Fine Art

For the past few years, the economy has been trickling into an unfortunate depression. Many people from all socioeconomic classes are frantic to find different avenues to flourish in. Many have turned to collectibles, hoping to get a good return in their investment. Although collectibles have always been notable and prosperous assets, it is no longer the same as it was before.  Unlike most unstable markets, such as gold, sports memorabilia, and fine jewelry; fine art is proving to be rather profitable investment. Fine art collectors both new and experienced should not carelessly go into the industry without a few tips on choosing the right investment. Regardless of the consistent profitability, purchasing the wrong art piece can easily turn this into a bad investment.  Here are a few tips ensure a good investment.

Firstly, spend a substantial amount of time researching and educating yourself; look through art magazines and art history books. You may also want to hire an art consultant that is both knowledgeable of the industry and understands your artistic preferences. Secondly, visit as many art galleries, art museums, and art expos as possible. Once you have acquired sufficient knowledge of the industry as well, you can start to feel the pulse of new, up and coming artists. Next, start “window shopping.” While you certainly want to look for pieces that you love, also take into consideration of the types of pieces with a good return in your investment. During this economy, it is reasonable to be selfish with your money, as many of these pieces can range from $10,000 to $250,000.

The best investments are original pieces from notable, well established artists. Whether you plan to sell the artwork in the future, original pieces will always have value. In order to avoid purchasing reproductions, assess and confirm that the piece is original.

How to evaluate the authenticity of a fine art piece:

  • Signatures- Search for the artist’s birth/death dates.
  • Hand-signed and numbered
  • Certificates of Authenticity
  • Aside from original pieces from notable artists, oil paintings also have a good return in an investment. However, there are paintings that hold more value than others.

How to evaluate a fine art valuable oil painting:

  • Portraits
  • Attractive women in dresses
  • Age- the kind of canvass and nails used may indicate the age of the artwork

Regardless of the “type” of artwork you purchase, ensure that it is off good quality. Quality includes color saturation and condition and the differences in this may substantially increase/decrease the price.

If you are an owner of fine art, we’d like to discuss how to protect your investment for the next generation and beyond. Please call us today for fine art insurance at 203.265.0996, email us, or return the form on this page.

Source: THE PERCEPTION AND EVALUATION OF VISUAL ART