Category: Archives

27 Jun 2019

5 Reasons to Have a Jewelry Appraisal for Insurance Purposes:

You’d probably prefer not to think about your jewelry treasures being damaged, destroyed or lost during a catastrophe, but it’s prudent to be prepared.

 

Whether you’ve spent years building your fine jewelry collection or you’ve recently acquired your first exquisite piece, you should insure each item to value, just in case the unexpected happens. To do that properly, you must have your jewelry appraised for insurance purposes.

 

Here are 5 reasons to consider:

 

  1. Appraisals are important to the insurance process

If you have a sentimental attachment to your most cherished jewelry pieces, you’ll love them no matter what they’re worth. Still determining value is important, especially when you’re purchasing insurance.

  • You need to know if your Homeowners Policy jewelry limit will cover them, or if you need a valuable items endorsement or a separate policy.
  • If you need a special endorsement or policy, underwriters will base your coverage amount on the appraised value of your jewelry.
  • Your insurance premium will be based on that same value.

 

  1. Personal Property Vs Scheduled Property

A homeowner’s policy does not insure Jewelry under the personal property section of your policy. In order to insure jewelry correctly, you need to have it listed as a scheduled item on your homeowner’s policy, or it needs its own specific valuable articles policy. Both coverage options will require that you have a detailed appraisal that is at no more than 3 years old.

Advantages to Scheduling your Jewelry:

  • Broader Coverage: Scheduled items will be covered for additional risks, including accidentally losing your scheduled jewelry (for example, losing your enjoyment ring while on vacation) which would not be covered under a standard homeowner’s policy.
  • Replacement Cost Coverage: The insurance company pays what it costs to replace your damaged property and doesn’t reduce the payment due to the item’s depreciation.
  • No deductible: If you file a claim for a scheduled item no deductible will apply.

 

  1. A sales receipt won’t do

Insurance companies won’t accept a receipt of purchase as a legitimate measure of value. It doesn’t matter how much you paid for your jewelry. When writing a policy or paying a claim, the insurance company relies on the actual appraised value, not the cost.

 

  1. The insurance company might require updated appraisals

Even if your insurance company doesn’t require regular appraisal updates, you might want to get them anyway.

  • It’s the best way to make certain you are insuring your jewelry to its proper value.
  • If the market prices of precious metals, diamonds, and fine jewels rise or fall, it could change the value of your jewelry.
  • Vintage, antique, and collectible jewelry styles go in and out of favor, causing the values to go up or down.
  • Values rarely remain constant, and your policies should change accordingly.

 

 

  1. You may still have to prove the value if a loss occurs

When you file a claim, the insurance company won’t simply write a check for the amount of your stated coverage. They will verify the details before settling your claim.

 

If a thief stole your jewelry, they will want to see a police report. If you lost it or it simply disappears, they will want to know how and why. If you have no witnesses, the insurance company adjuster may decide to talk to friends and relatives about you and your jewelry.

 

Regular appraisals can help you prove an insurance claim. An appraiser can attest to the quality, design, condition, and valuation of your jewelry. If a jewelry professional has inspected your collection a number of times over the years, the dated documentation can verify ownership and custody.

 

Before you take steps to insure your jewelry, contact an appraiser to properly evaluate your collection. For your peace of mind, make sure the professional you choose is well-trained and can handle the task with confidence.

 

Do you have jewelry that you haven’t had appraised in a while? Contact guest blogger and independent jewelry appraiser Aimee Berrent to set up an appointment – 617-304-0174 – aimee@ambappraisal.com – ambappraisal.com

 

CAV Insurance has access to carriers like Chubb, AIG and other companies that specialize in insuring jewelry and other valuble articles. Whether you have a single item or a large collection, CAV Insurance will help find you a policy that fits your needs. CAV Insurance has been insuring jewelry in Weston, Wellesley and the Metro-West area since 1955.

 

30 May 2019

That 80s and 90s Autos: Never Gonna Give You Up

The 80s and 90s Vehicles Are Back!

 

They say that history repeats itself. It’s true that the ‘80s has not, and seemingly will not, go away. Cars from the 1980s and ‘90s are catching on in the collector market, providing more coverage opportunities and competition in auto insurance than ever before. The market is undergoing rapid change because Generation X and Millennials have become the largest group of people interested in acquiring collector vehicles. Today, the ‘80s and ‘90s cars are some of the most sought-after cars on the market.

 

One of the biggest stories in the collecting world last year was the consignment of 140 cars from the 1980s and ‘90s. The collection, dubbed “The Youngtimer Dream Garage,” includes so many sweet cars that RM Sotheby’s broke it up into four sales—Paris in February, Amelia Island, and Fort Lauderdale in March, and Essen in April. Can you provice a link to this?

 

More and more insurers have noted that consumers are asking for quotes for classic vehicles from the ‘80s and ‘90s. Take a look at just a few that continue to crop up.

 

1980s

  • Chevrolet Corvette
  • Ford Mustang
  • Chevrolet Camaro
  • Chevrolet C10 series
  • Chevrolet Monte Carlo
  • Pontiac Firebird
  • Mercedes-Benz 560SL

 

1990s

  • Ford Mustang
  • Chevrolet Corvette
  • Chevrolet Camaro
  • Chevrolet C1500 series
  • Mazda Miata
  • Porsche 911
  • Ford F-150

 

As the weather warms, we can expect to see more of these vehicles taking to the streets as collectors bring them out of winter hibernation. Are you eager to see these vehicles in the flesh? Don’t miss the Larz Anderson Auto Museum car events!

 

What’s more, if you’re an owner of one of these valuable vehicles, it’s important that you insure it to its unique value. When you’re looking to protect your collector vehicle, the team at CAV Insurance Agency can help. We serve motorists in Brookline, Weston and other neighboring towns. Contact us today and let us put our decades of classic car insurance expertise to work for you!

 

23 May 2019
employee benefits package 5 Reasons to Consider Offering a 401(k) Plan

5 Reasons to Consider Offering a 401(k) Plan

Why Your Business Should Offer a 401(k) Plan

 

Most people realize that, in the 21st century, we all have to accept more responsibility for saving for our retirement. Many small business owners of today are concerned that they won’t have enough money to retire. And what about your employees? They’re going to need nest eggs, too. There are plenty of reasons why your business should consider offering a 401(k) plan. Here’s why.

 

  • Attract and Retain Employees

Potential employees are looking at their full benefits package when considering a new job. In addition to salary, healthcare coverage and retirement plan access are becoming increasingly important. Seventy percent of employees surveyed report a 401(k) plan or other retirement plan is a “must have” benefit.

 

  •  Assist Employees in Saving for Retirement

For many employees, retirement savings has taken a backseat to other financial obligations. Money is consistently a top source of stress for workers and many employees are financially overwhelmed, with little retirement savings and no emergency fund. Companies that choose to offer a retirement plan can have a big impact on their employees’ futures.

 

  • Potential Tax Saving Advantages of a 401(k) Plan

As a business owner, retirement plans enable you to receive a possible tax credit of up to $500 for startup administrative costs each of the first three years of the plan. There are also potential tax deductions for offering an employer matching contribution. And participants who make pre-tax 401k deferrals lower their taxable income and may be eligible for a tax credit.

 

  • 401(k) Plans can be Easy to Set-up and Maintain

Today, retirement plans are typically designed to be easy to set-up, administer and maintain. Many retirement plan providers offer an automated process for handling complicated and time-consuming plan administration tasks, helping to reduce the risk of errors.

 

  1. A Financial Wellness Program Can Help Increase Employee Productivity

Financially stressed employees are typically less productive at work and can cost their employer productivity and money. Nearly one-third of all employees report being distracted by personal financial issues while at work, with almost half of that group spending three hours or more each week handling personal finances at work. Additionally, employees are twice as likely to report missing work on account of their personal financial issues and more inclined to cite health issues caused by financial worries. Many 401(k) platforms offer a comprehensive Financial Wellness program which can help employees face their financial decisions with confidence.

 

Do you have any questions about 401K plans? Contact guest author and Certified Financial Planner Leah Weinberg of Weinber Finanical Group www.weinbergfinancial.comleah@weinbergfinancial.com– 617-965-1965.

 

Need more information on how to protect your business and financial future? Talk to the team at CAV Insurance Agency, serving Brookline, Wellesley, and surrounding cities in Massachusetts.

16 May 2019
Are Your Vintage Toys Valuable? vintage comic books stacked

Are Your Vintage Toys Valuable?

How to Determine If Your Vintage Toys are Worth Insuring 

When you were younger, you may have collected everything from Hot Wheels, Pez dispensers, comic books, and action figures. Chances are that when you “grew out” of your toys, they made their way to the garage sale or thrift store. After all, there was always something newer and better coming out. However, if you or your parents kept any of your old toys, dolls, and playsets, you may be in luck. Some of the old toys that are now considered vintage might be worth more than you think. Here’s how you can tell an old toy from a collectible worth insuring.

 

  • Rarity

Generally speaking, vintage toys that were made in small quantities often bring a higher value than those which were mass produced. That means that if you own one of the 2,000 royal blue beanie baby elephants, you might have something valuable on your hands (worth around $5,000).

 

  • The older the better

Just because you have a toy from a few decades ago doesn’t mean that it is instantly valuable. An antique toy worth insuring shouldn’t be something that can be made today. To date an antique toy, check the patent, maker’s mark, or country of origin mark on the toy.

 

  • Condition counts

In the world of antiques, mint condition is ideal. This means that the toy is still in its original box with the instructions and has never been opened. Mint condition toys are worth much more than those that have been used, played with, and show wear and tear.

 

  • Expert restoration

If something in your collection needs to be restored, be sure that an expert does it. Someone who understands the product, material, and value of the piece is more likely to do a better job at restoration. Normal wear and tear is generally acceptable, but keeping your collection in working and aesthetically-pleasing condition is critical to retain the value.

 

  • The value may be in the eyes of the beholder

Some people value vintage toys for their monetary worth, some for their charm, and some for their nostalgia. That said, beauty is in the eye of the beholder. Not every toy you cherish will be of value to others. Your best option is to collect what you enjoy, whether or not it holds monetary value.

 

With a valuable collection comes the need to secure reliable insurance. A reliable policy can protect your high-value collection as it grows, giving you the peace of mind that you have a financial safeguard in place should the worst happen. To get started on your tailored coverage, contact the team at CAV Insurance Agency. We serve collectors in Dover, Needham, Brookline and surrounding cities in Massachusetts. Give us a call on  781-237-4107 to get started!

25 Apr 2019

4 Top Tips for Collecting Sports Memorabilia

Essential Tips When Building a Sports Memorabilia Collection

 

Collecting sports memorabilia is something that prevalent in the sporting world, regardless of sport, team, location, or region. There’s a lot of sports memorabilia to collect for the avid fan, which means it’s a good idea to plan things out before you start building your collection. Collecting sports memorabilia can be a fun and exciting hobby, as well as being a possible lucrative investment, too. Take a look at these tips as you expand your valuable sports memorabilia collection.

 

  • Choose a theme

Your collection should be a reflection of who you are as a sports fan, what you’re are enthusiastic about, and what team you support. You’ll want to narrow it does so that you’re not just buying items at random, but that you have a consistent theme that is, in total, more valuable.

 

  • Don’t fake it

With the demand for sports memorabilia being so high as it is, there is a lucrative market for fakes. Be warned, some of the fakes look like the real deal and can be sold for a pretty penny to the untrained eye. Before you make any large purchases, make sure it is real. Research before you buy. Generally, it’s safest to purchase from the official stores or reputable organizations.

 

  • Determine a price range and budget

Realistically, you won’t be able to acquire every piece of memorabilia you want. Maybe you can’t find it, maybe you can’t afford it. Make sure that you have an overall budget and a reasonable price range to operate under when looking for items.

 

  • Insure your collection

A standard homeowners insurance policy will provide limited or no coverage for your valuables. If you have (or are building) an extensive collection, then it’s likely you’ll need additional coverage. Consider purchasing a rider that will protect your entire collection from damages from fire, theft, vandalism, and more.

 

Your local insurance agents in Wellesley are ready to help you find the right homeowners insurance that protects your property and beloved sports memorabilia collection. Contact us at CAV Insurance Agency to get started.

18 Apr 2019

What to Consider Before Joining a Nonprofit Board

What to Take Into Consideration Before Joining a Non-profit Board

 

You’re thinking of joining a non-profit board because you’re passionate about the cause and want to help further the mission. You know that your skills can be put to good use on a non-profit board. Although it may be the last thing you think about when you volunteer on the board of a non-profit but are you aware you might be putting your personal assets at risk? Non-profits face many of the same threats as for-profit businesses, including the potential for lawsuits. If the non-profit is sued and lacks adequate planning and protection, you could lose your savings, your home, and additional assets.

 

Unfortunately, non-profits can be insufficiently protected when it comes to claims. Nearly two out of three non-profits reported a Directors & Officers liability claims within the past ten years. Lawsuits can be filed by donors, vendors, competitors, employees, government regulators, and others. When you become a member of the board, you face being personally sued, and be responsible for the cost of hiring your own attorney to defend yourself.

 

Serving on a non-profit board can be fulfilling and meaningful, and it is a commitment of your time and talent. That is why it is so important to take the time to understand the non-profit’s mission, how it operates, and whether you may have any conflicts of interested before you decide to join a board.

 

Here is what you should consider first before joining a non-profit board:

  • What’s expected of you as a board member? Learn what others board members will expect of you to that you better understand your duty.
  • Who else sits on the board of directors? Consider meetings with the chairperson before committing to the board to understand their leadership style and their vision for the nonprofit.
  • Does the organization have employees? If so, are they properly trained, do they have written employment policies, and do managers make sure they comply with employment laws?
  • Review the reporting and corporate governance documents and bylaws. Review budgets, employee salaries, and other financial documents.
  • Are there ongoing on previous lawsuits? Issues and disagreements could signal a red flag for a potential lawsuit.
  • Does the organization have a Directors & Officers Liability insurance policy? Understand the scope of coverage and limits of liability provides to make sure you would be protected.

 

Serving on a board of a non-profit organization can be a rewarding experience, but it is critical to protect yourself by making sure you make an informed decision.

 

To discuss the insurance options that are available for you and the non-profit please contact CAV Insurance Agency, serving Wellesley, Dover and surrounding towns.

11 Apr 2019

RM Sotheby’s Amelia Island 2019 Auction Results

Results from RM Sotheby’s Amelia Island

 

On Friday, March 8th, the RM Sotheby’s Amelia Island 2019 was held on the grounds of the Ritz-Carlton Hotel in Amelia Island, Florida. This year, the sale features more than 140 automobiles and totaled 84 percent sell-through rate. Take a look at some of the auction results that stunned the audience.

 

Lots from the single-owner Youngtimer Collection opened the sale, with the first lot consisting of a 1993 Mazda RX-7 bring an above-estimate of $50,400, setting a record for the model at auction. Within the Collection, a 1996 Nissan 300 ZX Twin Turbo sold for $53,200, a 1989 Mercedes-Benz 560 SEC AMG 6.0 ‘Wide-Body’ reached $179,200, and a 1994 BMW 850 CSi achieved $184,800, all eclipsing or reaching the top end of the high estimate. An original 1994 Toyota Supra Twin Turbo Targa, which had less than 11,200 miles from new, sparked an interest with many buyers in the room. The sale price for this vehicle reached $173,600 and exceeded the current auction record for the stock model, estimated at around $100k to $120k.

 

Sales continued to climb throughout the day. A Euro-spec 1992 Ferrari F40 achieved $1,017,000 and a 2015 McLaren P1 sold for a solid $1,490,000. The 2010 Bugatti Veyron 16.4 ‘Sang Noir’ was sold for $1,500,000.

 

The sale session was led by the top sale of the entire week, a 1965 Ferrari 275 GBT, which sold for a final price of $2,205,000. The award-winning 275 GBT retains its original, matching-numbers engine.

 

RM Sotheby’s Amelia Island 2019 – Top Ten Auction Results

  1. 1965 Ferrari 275 GTB – $2,205,000
  2. 1967 Shelby Cobra 427 – $1,792,500
  3. 1930 Duesenberg Model J LeBaron Dual Cowl Phaeton – $1,650,000
  4. 2010 Bugatti Veyron 16.4 Sang Noir – $1,500,000
  5. 2015 McLaren P1 – $1,490,000
  6. 1926 Hispano-Suiza H6B Cabriolet Le Dandy – $1,352,500
  7. 1934 Packard Twelve Individual Custom Convertible Sedan – $1,325,000
  8. 2015 Porsche 918 Spyder – $1,187,500
  9. 1992 Ferrari F40 – $1,017,000
  10. 2017 Ferrari F12 tdf – $967,500

 

For complete results, please visit RM Sotheby’s.

 

When you’re looking to protect your collector vehicle, the team at CAV Insurance Agency can help. We serve motorists in Brookline, Weston and other neighboring towns. Contact us today and let us put our decades of classic car insurance expertise to work for you!

 

28 Mar 2019

How to Prepare Your Home for the Spring Market

Easy Ways to Prep Your Home for Spring Selling

 

Decluttering now during the quieter winter months will allow your home to be 100% ready for the spring market. Staging can be accomplished by rearranging your own possessions or complimenting them with items from our very own staging consultant. The National Association of Realtors has extensive research showing that staging reduces market time and puts more money in your pocket. The proof is in the numbers – According to the Real Estate Staging Association, homes which are staged before going on the market sell 73% faster, on average, then their non-staged counterparts.

 

Many homeowners are familiar with the concept of home staging, thanks to reality television. Home staging is the art of preparing a home for sale. Via home staging, you aim to improve the flow of your home, eliminate clutter, and make your home appear bigger and brighter. A professional home stager is an expert in the art of preparing homes for sale. Since most buyers now begin their home searches online, having your home professional staged appropriately can be crucial toward that first step of attracting an interested buyer. A non-staged home can present worse in photographs as compared to a staged one. Staged homes are often more likely to get a walk-through.

 

Do you have any questions about staging a house? Please contact our guest blog post author & Local Real Estate expert Gary Kaufman of  The Kaufman Realty Team | 617-721-0785 | garykaufmanrealtor@gmail.com Website: www.kaufmanrealtyteam.com

 

21 Mar 2019

Winter Thaw is Starting: Is Your Sump Pump Ready?

Getting Your Sump Pump Ready for Spring

 

After a long, cold winter, it’s a welcome sign when the days get longer and the temperatures begin to climb. But the spring thaw can also bring spring flooding to your basement if your sump pump is not operating properly. When was the last time you checked your sump pump to make sure it is in working order? Now is also the time to check your homeowners insurance since some policies may not cover water in the basement.

 

What to Check

  • Is the sump pump plugged in?
  • Is the power cord in good condition?
  • Is the drain hose connected properly?
  • Is it free from debris?
  • If it has a backup battery is it charged?

 

Sump Pump Maintenance Tips

  • Check to make sure debris isn’t clogging the pump area. Even larger objects can find their way into your sump pump, so be sure to check the vent holes, valves, and all other areas of your sump pump for unwanted substances.
  • Test your sump pump. If it’s been some time since you last used your sump pump, check that it is working properly. You can do this by pouring water into the sump pit. If it doesn’t start working instantly, you may have a problem that you need to fix.
  • Make sure the battery is charged. Even though your sump pump likely has a back-up battery in case of an emergency, it’s important to make sure it’s always working.

 

If your sump pump does not seem to be working correctly, contact a professional for assistance.

 

A sump pump that has been properly maintained will provide service for up to 10 years. If you don’t know the age of your sump pump, it’s a good idea to consider a replacement and keep a backup on hand in case your sump pump fails.

 

Sump Pump Coverage

Consider obtaining optional coverage for water backup or sump discharge or overflow since most homeowners insurance policies do not cover this damage. A sump pump endorsement can be purchased at a low cost and will provide coverage for damage caused by backed-up water. This includes coverage for items that water damaged, as well as the cost of cleaning up the water in your home, as long as the loss was not caused by the homeowner’s negligence.

 

Are you looking for reliable homeowners insurance coverage? Your local agents in Wellesley are ready to find the right coverage to suit your needs, home, and budget. We serve homeowners in Dover, Needham, Brookline and surrounding cities in Massachusetts. Contact us to get started!

14 Mar 2019

Car Season is Almost Here! Larz Anderson Auto Museum In Brookline has announced this years event schedule!

For car fanatics, the arrival of spring means it’s almost time for events and shows. Spring brings the opportunity to gather together, view some of Metro West’s best cars, and enjoy car chat while sipping on quality(Remove)coffee. No one puts on a car show quite like they do at the Larz Anderson Auto Museum. Offering events that you don’t want to miss this car season!

 

Lawn Events

Lawn events at the Larz Anderson Auto Museum are a must for any collector car enthusiast. These events draw in cars from all around New England – whether your car is 1962 Jaguar E-Type or a 2018 Ford GT there is a show for you.Fans gather to view some of the best cars in the area and get to enjoy an up-close view of each vehicle, and chat with fellow enthusiasts.

 

Upcoming events include:

 

  • Cadillac Day

Sponsored by New England Cadillac and LaSalle Club

Sunday, May 19, 2019

10am – 3pm | Car Registration $10

 

  • Member Car Day

Museum Sponsored Show

Sunday, June 2, 2019

9am – 1pm | Car Registration $10

 

  • Corvette Day

Sponsored by NCRS New England Chapter

Sunday, June 9, 2019

10am – 3pm | Car Registration $20

 

  • German Car Day

Museum Sponsored Show

Sunday, June 16, 2019

10am – 2pm | Car Registration $20

 

  • British Car Day

Museum Sponsored Show

Sunday, June 23, 2019

 

  • Miata Day

Sponsored by Mass Miata Club

Sunday, June 30, 2019

10am- 2pm | Car Registration $20

For more information about upcoming events and registration, visit Larz Anderson Lawn Events.

 

Cars & Coffee

Cars and Coffee is a great event for all car enthusiasts to meet up and talk cars. The event is free for all and continues to be a much-loved tradition for local car fans.

Upcoming events:

 

  • May 11, 2019
    8am-11am

 

  • June 22, 2019
    8am-11am

 

  • July 13, 2019
    8am-11am

 

  • August 24, 2019
    8am-11am

 

For more information about upcoming events, visit Larz Anderson Cars & Coffee.

 

Will you be going to any of Larz Anderson’s events? Let us know! When you’re looking to protect your collector vehicle, the team at CAV Insurance Agency can help. We serve motorists in Brookline, Weston and other neighbouring towns. Contact ustoday and let us put our decades of classic car insuranceexpertise to work for you!