How Can Agents Sell Valuable ArticlesCoverage?

The best way to broach the subject of valuable articles coveragewith clients is to suggest that they create an inventory of alltheir personal possessions, including jewelry, art, antiques,memorabilia, stamps, coins, fine wines and more.

The inventory should include descriptions, values, conditionsand serial numbers for each item.

However, keeping track of valuables, especially collectiblesthat are frequently bought or sold, can be a daunting task. Aclient might find this process easier with an online inventorymanagement system, where detailed records can be accessed andupdated at any time.

One such system recently introduced by Chubb, “MasterpieceManager,” enables customers to create a secure inventory of theiritems, including digital photos. It also enables customers tocommunicate with their agent to keep their coverage up-to-date.

With the data online, accurate records are immediately availablefor the recovery or claim process if valuables are lost or stolen.Plus, unlike physical records that can get lost or destroyed, theseelectronic records remain intact.

Once the inventory is completed, clients gain a clearer pictureof how much they actually own. At this point, agents and brokerscan help their clients focus on the best way to both physically andfinancially protect those items.

Clients should be advised to contact their agent whenever theybuy a valuable item. Agents should conduct an annual review of aclients inventory, perhaps at the same time their auto insurancepolicy is renewed. The entire inventory should be re-appraisedevery three-to-five years to keep values up-to-date.

To further position themselves as specialists in valuablearticles coverage, agents can consider strategies such asestablishing referral relationships with jewelry and fine artsappraisers, developing co-branding campaigns with local jewelers,and joining local collector groups.

Reproduced from National Underwriter Property &Casualty/Risk & Benefits Management Edition, June 24, 2002.Copyright 2002 by The National Underwriter Company in the serialpublication. All rights reserved.Copyright in this article as anindependent work may be held by the author.