 For many clients, an engagement ring is the most valuable item they own (aside from the home or car) yet very often, it is not insured. This is unnerving when considering all the dangers a ring is exposed to and the loss stories associated with them. It's not always a happy ending when a ring is lost, stolen or damaged.
Ask your clients about their jewelry. With a specialty insurer, they will get the best jewelry insurance coverage to protect their investment.
Why specialty jewelry insurance?
Two words: Jewelry. Expertise.
If the worst does happen and you clients need to submit a claim, it's important they're taken care of by experts who understand jewelry. After all, not all insurance claims professionals will know the difference between a princess or emerald cut diamond like an expert jewelry insurer would.
Big "I" Markets offers agents access to Jewelers Mutual Insurance Group - a company that been insuring jewelry and only jewelry for 105 years. Their specialty jewelry insurance is a standalone policy. It's not connected to any previous coverage they already have so it reduces the stress on homeowners carriers.
What's covered? All types of jewelry - engagement rings, watches, earrings, even loose stones being set - are protected by comprehensive repair or replacement coverage that goes beyond typical homeowners or renters insurance. It protects against common perils associated with jewelry loss - like mysterious disappearance, and includes worldwide travel.
If something happens to your clients' jewelry, they have the flexibility to work with a trusted jeweler of their choice to repair or replace their piece with the same kind and quality as before.
Retain your clients. Offer a quote for worry-free jewelry coverage at jewelry.bigimarkets.com.
For more information about Jewelers Mutual, visit Jewelry Insurance on the Big "I" Markets product listing. Coverage is available to Big "I" agents in all states.
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SPECIAL FEATURE
Take Four Minutes to View Our Cyber "How-To"
 Last week's Two for Tuesday highlighted the Cyber-Small Business Solution product. The article contained a lot of information and links, but we wanted to bring one in particular to your attention, the How to Quote Cyber Liability Tutorial.
In just four minutes, you can view a live step-by-step demonstration of the cyber submission process. Familiarize yourself with the process and you'll be ready to quickly and easily complete cyber sales through Big "I" Markets.
Please contact bigimarkets@iiaba.net with any questions.
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How to "Talk Umbrella" with Your Clients
 There's an old expression, "You get what you pay for." So it makes sense that a common misconception among consumers is that millions of dollars in liability coverage must be really expensive. But a personal umbrella liability policy is a very affordable way to obtain a lot of coverage. As an agent, you can educate your clients on how a personal umbrella policy works, in order to help them understand that lots of coverage can indeed be affordable.
Take a moment to educate your clients with this message:
The purpose of a personal umbrella policy is to provide coverage only once a customer's underlying policy (homeowners, auto, watercraft, etc.) has paid out at the full minimum required limit, and has been exhausted. Since a personal umbrella isn't meant to provide coverage from the first dollar, and usually only comes into play when the injury costs several hundreds of thousands of dollars, claims (though very costly) are infrequent, relative to home or auto claims
For that reason, and others, umbrella rates for the average household tend to be quite affordable. For a household with 1 home, 2 cars, and 2 drivers with clean driving records, $1 million of personal liability coverage can cost just $150-250 annually. .
Having a personal umbrella is vital to protecting a customer's assets (including future earnings), in the event that they are sued. A personal umbrella also covers defense costs. In light of what it can cost a customer who doesn't have the extra liability from a personal umbrella, agents should be quoting a personal umbrella to every client.
Once you've offered coverage, it's also wise to document that offer and if the customer declines the coverage. Download our customizable declination form to make that process quick and easy.
Big "I" members enjoy access to the IIABA-endorsed RLI Personal Umbrella, which offers limits of up to $5M ($1M in NM) and excess UM/UIM nationwide. Obtain a quote today at www.bigimarkets.com or at www.iiaba.net/RLI.
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April Lightning Learning
Big "I" Virtual University
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NEW ISO's Personal Auto Policy Changes
Big "I" Virtual University
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Date: Wednesday, April 12, 16, 24
Time: 11:30 - 11:50pm EST
Cost: Cost: $9.99 for all three sessions
Summary:
The Big "I" Virtual University's April Lightning Learning series features three 20-minute sessions dedicated to business, selling and goals. Even if you can't participate in the live sessions, you will receive a link to the on-demand recordings and can listen at your leisure. Register once to attend the following:
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April 12 - Is All Business Good Business?
I'll save you the suspense - NO! Not all business is good business and not all opportunities are good opportunities. There are specific signs to indicate when you should just walk away. That's what we discuss in this session - when to know you need to walk away.
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April 16 - How Much "Effective" Selling Time do You Actually Have?
"Available" selling time is not the same as "effective" selling time. "Effective" selling time is a function of closing ratios. (You do know your closing ratio, don't you?)
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April 24 - How Much New Business Do You Have to Add to Make Goal?
I believe the answer to this question is going to surprise you. For an agency or even a producer to accomplish a new business goal several factors must be considered: 1) retention ratio; 2) "intrinsic" book changes; 3) closing ratio; and 4) average income.
When looking for quick strikes of information on focused topics the VU's monthly Lightning Learning series is there to help. The next extended webinar will focus on ISO Personal Auto Changes and includes a 'seat' to attend live, a link to the on-demand recording, and a written transcript. Consider presenting conference style for the entire agency to benefit. Please send any questions to VU staff..
Registration:
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Date: Tuesday, May 8
Time: 1:00 - 2:30 p.m. EST
Cost: $49 (includes live presentation, recording and written transcript)
Summary:
Insurance Services Office (ISO) filed 30 changes to its personal auto program to be effective September 1, 2018. Nine changes are being made to the base PAP form itself and 21 endorsements were either revised, removed or created. Exclusions previously requiring the attachment of three endorsements are now included in the base PAP. Additionally, this filing:
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Introduces seven new optional endorsements;
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Inserts a brand new, seemingly ridiculous exclusion into the base PAP;
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Kills off five endorsements;
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Revises 12 endorsements; and
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Makes various changes to the policy form and endorsements.
You do not want to miss this overview of major additions. When looking for quick strikes of information on focused topics the VU's monthly Lightning Learning series that continues to focus on good business and goal setting for the month of April. Please send any questions to VU staff.
Registration:
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Be one of the first five with the correct answers and win a $5 gift card (Starbucks, Dunkin' Donuts, Baskin Robbins, or Krispy Kreme).
Don't forget to answer the Tie Breaker!
1. On this date in 1983, fugitive members of this labor union were arrested and printing/broadcast equipment was seized by police in several cities. Six years to the day later it was granted legal status. What is the name of the labor union?
2. Jewelers Mutual Insurance began in what year?
3. Last summer on Ile de Re, France a new vending machine made it possible to purchase ________ any time of the day?
TIE BREAKER
TB - RLI Insurance got their start in the 1960s as one of the first insurers of ______?
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BIG "I" MARKETS SALE OF THE WEEK
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