483047213Good work is as hard to find as good workers are to keep. Anyone that works in a Human Resources role can attest to the difficulty of attracting workers, keeping workers happy, and making sure employees are motivated. This can be even more true when talking about yacht crew members. Crew members are constantly moving from one ship to another for many different reasons. The following tips can help you formulate a plan to help keep your crew on your vessel. They can also help to motivate crew in general, as workers may work harder knowing that they are being ‘taken care of’ or feeling grateful for the position they are in on board.

Salary

The most obvious thing that can motivate someone to work for you, or to work harder, is money. Are your wages competitive in within the industry? Depending on what someone’s title is, they can make anywhere from $30,000 to almost $500,000. By offering competitive salaries, crew members may be more inclined to come work for you and may think twice before deciding to leave.

People They Work With

One aspect of employment that can be considered priceless is the people that work with you. While this applies to many jobs, it carries even more weight with yacht crew members. One reason is because crew are essentially family. Would you want to live and work closely with someone you didn’t like?

Itinerary

Many crew members decide what yacht they may want to work on by looking at the itinerary. One of the benefits of being part of a crew is getting paid to sail around the world, and visit places you may have otherwise never even considered going. Also, some crew members may only want to stick to certain areas they are familiar with, or places they consider safe.

Vessel Size

The size of the yacht can be a deciding factor in where someone decides to work. After all, the larger the yacht, the better it looks on the resume. Not to mention there are more positions to fill, giving you the opportunity to work with more people. Let’s not forget also, that a larger yacht can also mean a higher salary. Some crew prefer the environment of a smaller yacht, where there are often less personalities to work with and sometimes a less strenuous work environment.

Insurance Benefits

The last tip, and probably most important one, is offering a complete insurance benefit package for you crew. While money is important to sustain your life, without your health you won’t have a life to live. Sailing around to world, going from country to country, leaves those who work on board at risk if something ever happened to them. Where would they go? Who would they talk to if they didn’t speak the language? Not having to worry about paying what could be thousands of dollars for an emergency medical situation can be the ultimate benefit for a yacht crew member. Having other coverage such as benefits for lost wages, routine care, dental and vision are also key components to providing a complete package.

Having proper insurance is important whether you are at sea, or docked at a shipyard. MHG is your specialized broker when it comes to crew insurance. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about yacht crew insurance or travel insurance, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. For more information on preparing to work on a yacht, read our previous blog, “Yacht Crew Insurance Terms 101”.

The following tips can help you formulate a plan to help motivate your yacht crew and keep them on your vessel.

LEANDRO LEON1It takes a special group of people to make insurance fun, which is why you should get to know us!

MHG Insurance Brokers has been serving the marine industry, businesses, and groups and individuals around the world since 1991. A lot goes into a business lasting more than 25 years. Even more goes into a business experiencing success and continuing to grow during that time. While much of it can be attributed to a company’s philosophy, structure, and culture, a business is nothing without the people who execute that philosophy and help create a one of a kind culture. Being in business for over 25 years is no small feat, and much of what is responsible for a business’s success are its people!

Here at MHG, we are an extremely diverse bunch. Many of us are from various countries, involved in several community organizations, and from different career backgrounds. Get to know us as we do some reflecting, and give insight to the history of MHG and its employees.

So, let’s get to know a member of MHG’s Accounting Department, Leandro Leon!

Before MHG

Before moving to the United States, Leandro was a full-time student in Venezuela. He attended “Universidad Tecnologica del Centro” where he graduated in 2012 obtaining two bachelor degrees, one in Accounting and the other in Human Resources Management.

MHG Timeline

Soon after finishing school, Leandro got the opportunity to intern with MHG in the Accounting Department. He started in September 2012, and didn’t take long to fit in. He was eventually hired on to a full-time position and has been working with MHG for almost 4 years. He is currently a staff accountant, and works remotely in Orlando, Florida.

Personal

Leandro is originally from Venezuela and is fluent in two languages, Spanish and English. Before working for MHG, he had only been to the United States one time. Leandro is also a black belt in Karate, and used to teach classes in college. In his free time, Leandro enjoys working out, salsa dancing, and is very close to his family.

Leandro’s diverse background is just one of many employees at MHG, which is why the company prides itself a very internationally diverse business. With MHG’s employees having well versed backgrounds, whether it be from a different country or different industry, we see it as an advantage in assisting and offering advice to our clients. To hear some insurance advice from some of our employees, read our previous blog, “If You Could Give One Piece of Advice to Your Clients, What Would it be?

MHG is here to help and provide assistance with all your insurance needs. Whether you are looking for marine crew insurance, health insurance, life insurance, travel insurance, expatriate insurance or insurance for your business, we have the experience and knowledge to help you find the right policy. To learn some of the benefits of using an insurance broker, click here! Please contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. Let our insurance specialists find you, your family, or group, the best insurance available for your budget.

Get to know us as we do some reflecting, and give insight to the history of MHG and its employees.

bp prFORT LAUDERDALE, FLORIDA (February 17, 2017) - MHG Insurance Brokers has been recognized as one of the Best Places to Work in South Florida for the second year in a row. This program is conducted by the South Florida Business Journal, and honors the area’s leading employers that go above and beyond to create an enjoyable and meaningful work environment for employees.

Companies are judged based on the results of an employee survey which evaluates qualities such as retention, engagement, leadership and more. Results of the survey are then submitted to Quantum Workplace for analysis. Employees were encouraged to answer freely as all answers remain anonymous.

“Being named one of the Best Places to Work in South Florida is something that we love to be recognized for!” said Sheree Lynch, MHG Operations Director. “The greatest asset any company has is its staff and we work diligently to make the working culture of MHG a priority. We genuinely care about our team, so it’s very flattering to be recognized by such a prestigious publication with other top companies in our community.”

While many of the companies in attendance had similar benefits or characteristics that made them worthy of the honor of being a Best Places to Work in South Florida, there were some benefits that MHG offers that stood out from the rest. They include its family atmosphere, excellent health insurance that is 100% funded by the company, flexibility, 401k matching, and MHG’s entrepreneurial spirit which encourages employees to present new opportunities and initiatives for the company.

About MHG Insurance Brokers

Since 1991, MHG Insurance Brokers has been committed to providing expert insurance advice and innovative solutions for the marine, aviation, energy and related industries. Today, with over two decades of experience and relationships with some of the world’s top insurance markets, MHG has established an enviable reputation for providing quality advice, products and service for groups, businesses and individuals around the world. Based in Fort Lauderdale, Florida MHG has insurance specialists worldwide, with offices in Isle of Man, the Cote d’Azur and Hamburg. For more information, please visit mhginsurance.com

MHG Insurance Brokers has been recognized as one of the Best Places to Work in South Florida for the second year in a row.

CONOR 1 DSC_1296FORT LAUDERDALE, FLORIDA (February 21, 2017) – MHG Insurance Brokers announced today that Conor Hayes has joined the company’s Property & Casualty Division as a Senior Broker. He has the additional mandate of leading the company’s efforts to develop its existing book of ocean marine business. As MHG continues to expand upon its capabilities in these sectors of the insurance industry, Hayes possesses a wealth of experience, having worked as an insurance broker in the U.S., Caribbean, and U.K.

Hayes comes to MHG from a very technical background with numerous insurance-specific qualifications and brings particular expertise in blue water marine, commercial property and professional risks. Most recently, he was the Regional Vice President of a local insurance brokerage where he developed and managed a diverse book of business comprising of both marine and non-marine clients, which followed him to MHG.

“Conor has longstanding relationships with many important domestic P&C and Ocean Marine underwriters” said Andrew Dudzinski, MHG’s CEO. “With his addition to our existing P&C team, we look forward to using these relationships as a platform to write a lot more business by also taking advantage of MHG’s executive level connections in the cruise industry. We will be specifically targeting domestic manufacturing companies, the marine trades and tour & excursion operators, both in the Caribbean and worldwide.”

Hayes is also one of the founding members and current Vice President of the South Florida Irish American Chamber of Commerce (SFIACC). It is the first organization of its type in the region that is dedicated to promoting trade and commerce between the Irish communities in the tri-county area and with the island of Ireland.

About MHG Insurance Brokers

Established in 1991 in Miami, Florida, MHG Insurance Brokers is an independent, global, full service insurance brokerage and consultative facility. Through our extensive relationships with international underwriters, we offer a comprehensive suite of products including Employee Benefits, Risk Mitigation programs, Property & Casualty insurance and Financial Services all of which are supported by a client-focused approach. In the marine community, MHG is globally recognized for its expertise in the Maritime Labour Convention (MLC) 2006 and for developing bespoke MLC aligned insurance solutions for maritime employers. On the domestic front, we provide group and individual employee benefits along with expert advice on key federal statutes such as the Affordable Care Act. For more information about MHG Insurance Brokers and the wide array of services that our company offers, please visit www.mhginsurance.com

MHG Insurance Brokers announced today that Conor Hayes has joined the company’s Property & Casualty Division as a Senior Broker.

Tips for Attracting Expat Workers

511013546Moving to a new country for work is a big decision for someone to make. Many times, a person must consider moving their spouse, family, and must do research on the area to see if it is even a feasible option to relocate there. While it can be difficult to finally make the decision to become an expatriate, it can also be difficult for companies to lure expatriate workers to come work for them. While providing great benefits is an obvious must-do to make the job attractive, some businesses don’t realize the extent those benefits can go to in order to assure that their workers are happy and feel taken care of which often creates a loyal employee. Here are some ideas to attract expat workers.

Life and Health Benefits

One of the more obvious benefits to offer workers, whether they are expats or not is providing workers with good health insurance. It would be even better if you covered 100% of the premiums, leaving more money in your worker’s paychecks. Also, many companies also cover their employees with life insurance, with the amount dependent on their salary.

Pay for the Move

Something that may assist a foreign worker joining your company is your willingness to assist them on their big move. Relocating from a different country can turn out to be quite the investment. Covering moving costs, or even helping them find housing could be a make or break detail that dictates their decision.

More Vacation

If someone is moving from another country to come and work for your company, they are likely leaving behind friends, family, and a whole other life. Offering more vacation days would allow them to go back home more often to cure any home sickness they get.

Develop a Program

Many companies have expatriate programs set up to assistance their workers with settling into their new environment. Whether it is getting their kids set up in the best schools nearby, organizing events to mingle and getting to know the area, or even having someone on staff who is the go to person to answer any questions or offer any assistance to those new to the area.

Government and Legal Support

Every country has different laws regarding immigration and expatriates, and some governments offer more assistance than others. If you happen to live in a country who offers more assistance to expats, or it may be easier to get someone cleared to come work for you, take advantage of it. Promote it to workers, and let them know the process won’t give them a headache.

Security

Depending on the country, one perk you may be able to offer workers is more security. Many expatriate workers come from troubled areas, and the idea of move to a more stable and secure country is very appealing. Especially if they can also benefit from a stronger economy than the one back home.

Many of us at MHG are expats ourselves and we understand the global insurance needs of international businesses, and individuals and families living and working around the world. Our Insurance Specialists have the experience, knowledge, and access to multiple international insurance carriers to find you the most suitable plan based on your budget and future plans. Our commitment to your well-being does not end once you have purchased a plan; through our “Concierge Broker Service”, we will continue to assist you with questions about your policy and provide assistance throughout the claims process. Call us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com for help finding expatriate insurance coverage for you, your family or business!

Moving to a new country for work is a big decision for someone to make. Here are some ideas to attract expat workers.

512703822Many people consider life insurance a luxury. They don’t see it as being important because they can’t use it while they are alive. However, that doesn’t make it any less important. Do you care about your loved ones? Do you want to leave them responsible for your debts, funeral costs, and other expenses? There is also a chance you may leave your family with a reduced income which could make things very difficult for them. These are common reasons why everyone should consider purchasing a life insurance policy. But one reason you may not have considered is to protect your business.

Are You a Business Owner?

Owning a business is a great accomplishment for any individual or family. You get to be your own boss, make your own rules, and hopefully reap most of the rewards from your company’s endeavors. While there are many positives to owning a business, there also comes many obligations as well. Do you have a lot of overhead? As you know operating a business requires increases expenses, which is why you should consider protecting them with life insurance.

Most people that open a business or are working to grow and expand take on debt to do so. Taking out a life insurance policy can help payoff that debt in the event of your death. One important thing to note, if you are a sole proprietor, your business and all its debts will be left to your family. So, whether your business will be kept or sold, your loved ones will be able to reap more of the proceeds.

Do You Have Business Partners?

If you have business partners, it would be ideal for all of them to get a life insurance policy as well. Many smaller businesses have agreements in place that organize the transfer of ownership from the deceased to the surviving partner(s). The loss of a business partner could leave you and the reaming partners left with more financial obligations which could hurt the company, and even force it to close. When a partner purchases a life insurance policy, they will need to leave the death benefit for the other business owners so that the benefit goes to the business.

Do You Rely on Key Employees?

While owners and partners share an important role in the success of a company, there are also key employees that you may rely on as well. These could be sales people, managers, creative personnel, and even administrators. The sudden death of a key employee could impair the operation of your business. To protect your company from that, you can take out a key employee life insurance policy that will pay your company a benefit if something were to happen to said employee. You will be responsible for the premium, and how much coverage you would like to take out. You may also be allowed to borrow against the policy, and use the benefit any way that would benefit the business.

Keep in mind that life insurance doesn’t replace someone’s income, value, or even an employee. It will only offer a one-time benefit to get you, your loved ones, or your business through a difficult time and situation.

There are many things to take into consideration when making the decision of which type of policy is best for you, your family, or loved ones. For help trying to figure out which policy is best for you, read our previous blog, “What Are My Life Insurance Options?” Are you interested in purchasing Life Insurance or International Life Insurance? Would you like some more information regarding Life Insurance options that are available to you? Would you like to ask some questions to a Life Insurance expert? If the answer to any of these questions is yes, please contact us 954-828-1819 or visit us online at mhginsurance.com and talk to one of our insurance specialists for help in selecting Life Insurance and other coverage to ensure that you and your loved ones have the protection you need at every stage of life.

Many people consider life insurance a luxury. But did you know you can use it to protect your business? Read more!

175545573Many people in the insurance industry work hard to avoid the bad reputation that insurance typically carries. However, people often jump to negative conclusions about anything involving insurance. Time and time again, we come across people who have the wrong idea of what an insurance broker is and why they are actually advantageous to the consumer. We have heard they are a waste of time, waste of money, and only care about making their commission. Being a dedicated group of insurance brokers, we can tell you that those descriptions are often false! Everyone is entitled to their own opinion, but when we hear information that is incorrect, it encourages us to step in. Do you know what an insurance broker does?

If you know the answer to, then you are already aware of all the benefits of using an insurance broker. If not, learn why you should be using one. Take the time to find a quality, reputable broker to work with you in fulfilling your insurance needs. Not only will it be time well spent in the beginning, but it will also serve you well for the entire time that you have insurance needs, whether you are working on a yacht or wherever your travels may take you.

Brokers Can Offer More of a Selection

One benefit of an insurance broker is the selection of policies and plans. Typically, brokers can help you select insurance from a variety of different companies. Different insurance companies offer different plans, so having access to plans from multiple companies can afford you the opportunity to find the coverage that fits you best.

Also, depending on the insurance brokerage they may sell different types of insurance, allowing you to have a one stop solution for all your insurance needs.

Brokers Do Much More Than Sell Insurance

While brokers may act as the middle man between you and the insurance company, they can be so much more than that. An insurance broker will conduct research for you, file and assist you with the claims process, and work to get you the best coverage option for your situation. Often times a broker has direct connections with decision makers at the insurance companies so you may not have to sit on a 1-800 line for a long time, only to learn someone doesn’t have the authority to help you. Brokers also know which carriers provide consistent service, allowing you to avoid companies that may not deliver the level of care that you deserve at time of claim.

We Work for You

As brokers, we do not work for any insurance company, we work for you! Our goals are to please you, and make sure all you questions and concerns are handled. If you think about it, with all the benefits of using an insurance broker, it is certainly better than just going out and buying a policy from an insurance agent. Will an agent fight for you and your best interests?

Having proper insurance is important in every aspect of life. Whether you are at sea needing international coverage, looking for proper life insurance coverage, going on a vacation, etc. MHG is your specialized broker. Our insurance specialists have the knowledge and experience to find the policy that works best for you. If you are interested in purchasing, or have any questions about marine crew insurance, travel insurance, U.S. life and health, expatriate insurance, or property and casualty, please contact us at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. For more information on debunking insurance broker myths, read our previous blog, “Debunking 5 Myths About Insurance Brokers”.

Everyone is entitled to their own opinion, but when we hear information that is incorrect, it encourages us to step in. Do you know what an insurance broker does?

JEFF MARTIN 1It takes a special group of people to make insurance fun, which is why you should get to know us!

MHG Insurance Brokers has been serving the marine industry, businesses, and groups and individuals around the world since 1991. A lot goes into a business lasting more than 25 years. Even more goes into a business experiencing success and continuing to grow during that time. While much of it can be attributed to a company’s philosophy, structure, and culture, a business is nothing without the people who execute that philosophy and help create a one of a kind culture. Being in business for over 25 years is no small feat, and much of what is responsible for a business’s success are its people!

Here at MHG, we are an extremely diverse bunch. Many of us are from various countries, involved in several community organizations, and from different career backgrounds. Get to know us as we do some reflecting, and give insight to the history of MHG and its employees.

So, let’s get to know a member of MHG’s IT Team, Jeff Martin!

MHG Timeline

Jeff is a Programmer at MHG’s Fort Lauderdale office. In this role, he is constantly researching, exploring, and testing the different ways users interact with our internal Customer Relationship Management system, Client Portal, Broker Portal, and websites solutions.

He has also been in pursuit of creating elegant, efficient, intuitive, and innovative enterprise-grade software products that focus on making a human connection with the user’s needs. Through user-centric human interfaces, Jeff is in turn able to increase the productivity of our products and allow them to reflect the MHG brand.

Before MHG

Before joining MHG in 2014, Jeff spent the last 35 years of his career working on, with, and around computers. The fluctuating nature of technology kept him passionate about learning and integrating cutting edge technologies. He has built up a diverse set of skills that is necessary in today’s ever digital world, and has a background in the life insurance and automotive industries, and has also worked in Chicago and Southern California before coming to Fort Lauderdale.

Personal

One of Jeff’s personal passions is motorcycles. In his off time, he loves to ride in charity events that benefit diseases such a breast cancer. He has also participated in walks for the American Heart Association, and other organizations.

To hear some insurance advice from some of our employees, read our previous blog, “If You Could Give One Piece of Advice to Your Clients, What Would it be?” MHG is here to help and provide assistance with all of your insurance needs. Whether you are looking for marine crew insurance, health insurance, life insurance, travel insurance, expatriate insurance or insurance for your business, we have the experience and knowledge to help you find the right policy. Please contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. Let our insurance specialists find you, your family, or group, the best insurance available for your budget.

Here at MHG, we are an extremely diverse bunch. It takes a special group of people to make insurance fun, which is why you should get to know us!

CATHY1The bottles are popping! The champagne is flowing! The confetti is falling! MHG is celebrating its 25thanniversary this year, which means it is time to get this party started!

MHG Insurance Brokers has been serving the marine industry, businesses, and groups and individuals around the world since 1991. Reaching this milestone is no small feat, and makes it a perfect time to look back and do some reflecting. What better way to do that than by giving some insight into the history of MHG and its employees?

A lot goes into a business lasting 25 years. Even more goes into a business experiencing success and continuing to grow during that time. While much of it can be attributed to a company’s philosophy, structure, and culture, a business is nothing without the people who execute that philosophy and help create a one of a kind culture. Here at MHG, we are an extremely diverse bunch. Many of us are from various countries, involved in several community organizations, and from different career backgrounds. It takes a special group of people to make insurance fun, which is why you should get to know us!

So, let’s get to know the person that runs the show in our Isle of Man office, Cathy Lane!

Before MHG

Growing up with a passion for the arts, Cathy originally went to an art college in London for theater design specializing in costumes and props. She later did freelance work for the Dutch Royal Ballet, Surrey Opera Company, Spitting Image and Chanel Four Films. Also, on weekends she worked at the world famous Madame Tussauds!

After making her way through the theater and film industry, Cathy moved back to the Isle of Man to pay off student debt by working in a shoe factory. She then moved back to London 2.5 years later to work for another footwear company progressing from a sewing machinist on the production line, to women’s footwear designer, and finally production manager before relocating to the Isle of Man again.

With the footwear trade in decline, and the Isle of Man being well known for its financial services industry, Cathy decided to make the transition and ended up as a financial adviser at a local IFA company. After 8 years, Cathy moved to another local broker to set up a life assurance department, and from there moved to MHG

MHG Timeline

Cathy was hired by MHG in January of 2011 as an Operations Manager, and was put in charge of building up and hiring a staff at MHG’s recent expansion office in the Isle of Man. She was a key part of successfully starting up MHG’s new branch and was promoted to Director, European Operations at the end of 2012, and still hold that position today.

Personal

Cathy is an avid reader, and loves fantasy and sci-fi books, films, television shows, etc. (She recently attended Star Wars Celebration in London).  Due to her background in theatre and costumes, Cathy also loves to design and make things. She can sew you anything from a wedding dress to curtains!

Community Involvement

Cathy is a supporter of numerous cancer research charities, either through taking part in events or sponsoring others who are close to her who take part in events! She also volunteered as a costume maker for a local children’s theatre group, and has been involved with the Isle of Man TT for 8 years, working with the TV company who film the races. Cathy and her husband have spent the past couple years renovating their house which was originally built in 1886!

To hear some insurance advice from some of our employees, read our previous blog, “If You Could Give One Piece of Advice to Your Clients, What Would it be?” MHG is here to help and provide assistance with all of your insurance needs. Whether you are looking for marine crew insurance, health insurance, life insurance, travel insurance, expatriate insurance or insurance for your business, we have the experience and knowledge to help you find the right policy. Please contact us at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com. Let our insurance specialists find you, your family, or group, the best insurance available for your budget.

Let’s get to know the person that runs the show in our Isle of Man MHG Office, Cathy Lane!

517166953She said yes! Have you recently purposed to your significant other? Do you have an engagement ring that is currently uninsured? Hopefully she didn’t say yes to the latter!

Buying an engagement ring is an important step in life. No matter how big or small the ring, it should be considered priceless because of what it represents. That being said, priceless items are irreplaceable, but what would you do if the ring were lost or stolen? Many consider buying an engagement ring an investment as there is a good chance that it won’t lose any value. That is if it’s insured!

Get an Appraisal

How do you know how much insurance is needed if you don’t know how much the ring is worth? Most insurance companies will require a current appraisal to confirm that it is being insured for the cost to replace the ring if it were lost or stolen. Some jewelry stores will appraise your ring and present you with a certificate of its value. Keep a copy on file for your records. It should be noted that a thorough appraisal will include the 4 C’s: carat weight, color, cut, and clarity of the stones. If your center stone is approximately half a carat or larger, your jeweler should provide a diamond certificate from an independent laboratory such as Gemological Institute of America (GIA) to prove authenticity.

It's not a good idea for an appraiser to inflate the cost of the ring, as the higher the value, the more your monthly premium will be. Also, there is a chance the insurance company may replace your ring instead of giving you the cash value if lost or stolen, which should discourage you from wanting to pay a higher premium for something that isn’t worth that value.

Reappraise

It’s important to get your ring apprised every two to three years for insurance purposes. You may notice that the value of your ring continues to go up with every appraisal, this shows you that it was a good investment as it appreciates! When going to reappraise, bring a copy of your previous appraisal so they don’t have to start from scratch. This should also help you cut costs.

Types of Coverage

Now that you have your appraisal, it is time to actually insure your ring, or any other valuable jewelry you may have. If you have a homeowners’ or renters’ insurance policy, you can purchase an extension, often referred to as a rider, that specifically extends the coverage limit for your jewelry. This is a popular option in part because it allows people to have all their insurance in one, rather than purchasing separate plan. It is very important to review the covered causes of loss with your agent. Every policy is different and you cannot assume that your ring is covered for EVERY loss. What happens if you just lose a stone or stones? Is there a deductible? Make sure you understand how the insurance will respond.

Another option to insure your ring is to schedule it on a valuable articles or jewelry policy. This type of policy can work very well if you have several items that need to be insured or if the items change throughout the year. Typically, there is a lower deductible and broader coverage. Again, all policies are different and it is very important that you understand exactly what is covered. Ask your agent any questions you might have, so you are not surprised at the time of a claim.

With both options, the cost to insure your ring will mainly depend on the replacement cost of the jewelry you are insuring and the city where you live. Different locations have different rates due to higher or lower theft rates, tax rates, and other factors. Just remember, price is only one factor, we buy insurance to protect us when things go wrong. Before you buy any insurance policy, ask questions and be informed.

Congratulations on popping the question! Now that you know how to properly insure your engagement ring, MHG can be the “go to” for all your insurance needs. Read our blog “What Newlyweds Need to Know About Life Insurance” to learn how to properly cover you and your spouse as you begin your lives together. If you are interested in purchasing life insurance, or have any questions, we’re here to help! MHG has the insurance specialists to assist you in attaining the best coverage for your budget. Please contact us today at 954 828 1819 or visit mhginsurance.com. Congratulations and cheers to many years of wedded bliss!

Many consider buying an engagement ring an investment as there is a good chance that it won’t lose any value. That is if it’s insured!