Category Archives: Inland Marine Policy

Are Your Holiday Gifts Insured?

present_pileThe shopping season is in winding down right about now, and your loved ones have received all their gifts. Whether it is a new gaming system, new shoes, a big screen TV, a new iPhone or laptop,  special jewelry or a trip for 2 to a ski resort or sunny spa for a week, you may want to be sure that these gifts are protected by insurance if something unfortunate were to happen to them.

Does your Homeowners Policy cover any or all of these items while in your home BEFORE you give them away as gifts?  Do you have a Floater Policy (aka Inland Marine Policy) to add that special valuable jewelry item you received from your loved one? Did you purchase Travel Insurance for that exciting trip?

An Inland Marine policy or Floaters policy can cover those valuable gifts such as computers, fine arts, furs, golf equipment, jewelry, music instruments, and even camera equipment for All Risk, World Wide coverage with no deductible when scheduled on this type of policy.

Your Homeowners insurance may provide some coverage as well; however, every policy offers different features. A simple call to your agent can give you the detailed information you need to be sure.

Travel Insurance can protect you and your passenger should you need to cancel the trip due to a sudden illness that prevents you from going.  Or when on the trip, is an accident, sickness or injury covered by your current health insurance if you leave your home state? What if you require to be evacuated or airlifted for care – would your health insurance cover that expense? And if your trip was cut short due to a sickness or injury, would you get reimbursed to travel again at a later time?  You can have all of these situations covered with the right insurance.

Receiving electronics for the holiday is an awesome gift as well; however, will your homeowners or renters policy automatically cover it?  Every insurance company has their own interpretation of coverage and a call to your agent is strongly suggested to be sure you understand any limitation in your policy or instructions on what to do to protect your precious gift.  Sometimes purchasing the protection right from the electronic vender is the simplest and most economical way to get the best protection.

We hope you received all the gifts on your wish list this Holiday season! Keep Insurance on your list as well.  Do not hesitate to contact us if you have any questions at 718-386-5050 or

Does a Renter’s Policy Cover An Engagement Ring?

Would My Renter’s Policy Cover My Engagement Ring?

No. While some Homeowner’s policies cover jewelry; up to a specific limit, engagement rings should be scheduled on a separate Inland Marine Policy or added as a Floater to your existing Homeowner’s Policy. Otherwise it is unlikely that there will be coverage for such a “big ticket” item. For more information on this, see our blog “Floater Policy: Insuring Your Valuables”.

Ask Sherri Episode #4 – Valentine’s Day Special – Inland Marine Policy

Planning to propose this Valentine’s Day? Sherri makes sure that you know how to properly insure that engagement ring! Click the link and view our latest video. Learn something about a Floater policy and maybe have some laughs along the way. Enjoy!

Sherri Cosentino
Steve Russo
Patrycja Nawrocka

Directed By
Ray Alvarez

Filmed + Edited By
Peter Sidlauskas

Sound Production By
Bill Pierce

Ask Sherri: Does My Homeowner’s Policy Cover My Wedding Ring

Wedding_ringsQ Dear Sherri: I am getting ready to pop the question and have already purchased an engagement ring. Does my Homeowner’s policy cover the ring?

A How exciting and romantic. Let me start with a BIG congratulations! Most Homeowner’s policies cover jewelry on-premises for limited perils, which means causes of loss. However, there is a limit on the overall amount and a limit for each individual piece of jewelry. I’m sure (I hope, for your sake) that your engagement ring is way over that individual limit.

The best way to properly insure an engagement ring is to purchase an Inland Marine Policy or add a “Floater” to your existing Homeowner’s policy. To do this, you will need an appraisal giving a detailed description of the ring and its value. Since yours is a very recent purchase, you can use your receipt as long as the receipt provides a detailed description of the ring and the correct replacement cost value.

Some of the nice features of an Inland Marine Policy are that it is “Special Risk” coverage, meaning that if the peril or cause of loss is not specifically excluded by the policy; it’s covered! Also, you will have world-wide coverage, which may be important for that special honeymoon (don’t go cheap on us!) and usually a deductible is not applied if there is a loss.