RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

How Small Is Too Small When Considering Collectors Insurance?

June 1, 2016 1:42 am

Did you know over 90 million Americans collect?

Collectibles, or collectors, insurance, can be a worthwhile expense for homeowners possessing extensive, years-in-the-making collections.

Collections valued below $1 million may be covered by a standard homeowners insurance policy, says collectors insurance expert Keith McConnell, according to PropertyCasualty360.com, but these policies lack sufficient coverage in the event of financial loss. This is because claims are paid at actual cash value, rather than the value of the collectible. What’s more, homeowners may have to pay a higher premium for replacement cost coverage.

With collectors insurance, the policyholder sets the value of the collection—no appraisal is required, unless the collection is specialized or worth more than a few thousand dollars.

Some of the most commonly collected—and uninsured—items are fine art, sports memorabilia, wine, rare books, stamps and coins, antique rugs and tapestries, musical instruments, action figures, dolls, toys, auto and movie memorabilia, and guns. If you’re a collector in one of these categories, collectors insurance may be a wise investment.

Before committing to an insurance provider, draw up a list of items in the collection, including date purchased and amount paid, advises McConnell. Take a photograph of every piece, and store them—and all documentation and receipts—in a secure location.

If you’re having an appraiser assess your collection to determine insurance coverage, be wary of professionals who make offers on the spot— legitimate appraisers are independent and will not engage in this type of conflict of interest. Consult with an antique or vintage item dealer for a referral, McConnell adds.

Published with permission from RISMedia.


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Minor Aging-in-Place Improvements with Major Impact

June 1, 2016 1:42 am

Remaining in the home you currently own when retiring has its advantages, but only if it’s outfitted to accommodate your needs as you age. One aging-in-place feature crucial to longevity in the home is adequate lighting.

Vision issues brought on by age, like cataracts or macular degeneration, can make living in a poorly-lit home challenging. Because artificial light may exacerbate these conditions, increasing the home’s level of natural light is the best course of action. In fact, according to the Center for Health Design, natural light can help regulate your sleep cycle, boost your mood and facilitate bodily processes.

To increase the natural light your home receives, consider:

Ditching Drapes – Replace thick, heavy drapes with cordless or remote-operated blinds—ideal for those with limited dexterity. Use them to maximize the amount of natural light entering the home during the day.

Installing Skylights – ENERGY STAR-qualified skylights not only provide natural light, but also increase passive ventilation. A skylight can be especially beneficial in the kitchen, where visual acuity is critical. Most skylights are eligible for the 30 percent federal tax credit.

Repainting – Repaint the rooms you use most often with lighter, vision-friendly colors. Look for paint products that minimize glare, with a Light Reflectance Value (LVR) in the 40-60 range.

These minor improvements can have major impact on your enjoyment of the home in the years to come.

If aging-in-place isn’t part of your plans, reach out to your local real estate professional. He or she can help you downsize (or move-up!) come retirement.

Source: Brandpoint

Published with permission from RISMedia.


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