Novato, Calif.-based Fireman’s Fund Insurance Co. announced it is offering a 10 percent discount to homeowners with formally trained estate managers who live onsite to make homes and estates safer and more secure. The discount is available in California, Georgia, Illinois, Kansas, Louisiana, Michigan, Missouri and Tennessee. More states will be eligible for the credit in 2011.
“Household estate managers are trained professionals managing the staff and activities that require onsite, day to day oversight,” explained Don Soss, vice president high-net-worth personal insurance. “They understand the needs of the estate owners and coordinate the staff which lessens the chance of theft, fires, water damage, liability issues, and catastrophic loss.”
Estate managers often screen vendors, manage contractors, oversee domestic employees, direct home maintenance, coordinate home security, monitor groundskeepers, and run background checks on new household staff. Moreover, “independent agents and brokers work with the estate to make sure they understand the risks they face,” Soss added.
Among the coverages and services provided are:
- Domestic employee lawsuit coverage includes wrongful employment acts and sexual harassment limits up to $5 million.
- Workers’ compensation including risk management solutions that reduce the long term costs of employee injuries, injury prevention and safety.
- Liability limits up to $100 million to safeguard the true value of the estate assets for such things as bodily injury, property damage, and legal defense costs with no deductible. The insured can elect to use their attorney to consult on their case in the event of a lawsuit.
- Collections of art, wine, jewelry, etc can be covered with the highest limits and most generous newly-purchased limits in the industry.
- Discounts are available for installing security systems, backup generators, water leak detection, and more.
- Automobile insurance includes total loss replacement coverage for a new car up to three years.
- A risk service consultant is available to make recommendations on home safety and security to help prevent losses. This includes advice and consultation on proper care of art and wine collections, water leak prevention, and proper placement of fire and burglar alarm system components.
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