Wolfson Global Insurance Brokerage

Questions

To Ask

Some of the issues to consider are raised by the questions below. Contact us to get clarity on the answers that pertain to you.

Home and auto Insurance

  • As a condo or co-op owner, which parts of my apartment am I responsible for insuring, and for which parts is the building responsible?
  • If I hire a contractor to do work in my house or apartment, what insurance do I need to make sure they have? What paperwork, if any, do I have to request?
  • Is my jewelry covered while I’m traveling? What if I lose a piece of jewelry, rather than it being stolen?
  • What is flood insurance, and how does a flood claim differ from a “water damage” claim?
  • If somebody tricks me into wiring money into a fraudulent account, am I covered by my home insurance?
  • If one of my pieces of art is damaged, will my policy cover not only the cost to repair it, but also the loss of value as a result of it?
  • Do all insurance policies require that I rebuild my home or apartment in order to receive “replacement cost coverage?”
  • Does my artwork or jewelry have to be specifically listed, or can it simply be covered on a “blanket” basis? What are the advantages and disadvantages of each option?
  • Am I covered if I lend my car to someone and they have an accident?
  • If I insure my classic car under a collector car policy, will there be any restrictions or limitations?
  • If I renovate my house or apartment, do I need to make any changes to my insurance coverage?
  • Do I need to have any specific insurance if hiring a nanny? What if we have someone come only once or twice a week? Does it matter if we pay her “off the books”? What if she’s undocumented? Do any of these factors change what are insurance needs are?

Professional & Commercial Insurance

  • If our restaurant has to shut down, and we can’t open for a period of time, how does our business interruption insurance work?
  • If we launch a new fund, do we need to update our Errors & Omissions insurance?
  • If an employee claims we discriminated against him and sues us, does our regular liability coverage protect us? What if that person has applied for a job with us, and claims that we discriminated against him by not hiring him? Does that invalidate the coverage?
  • When an attorney joins or leaves our law firm, how does that change our malpractice coverage?
  • When our employees rent cars for business, do we need to buy the coverage offered by the car rental company?
  • Does our policy automatically cover “employee dishonesty?” What if it turns out that someone who was not an employee stole money? Does that change how much coverage applies?
  • If there’s a power outage and all our refrigerated goods spoil, are we covered? What if there’s a power outage that affects the entire region (but didn’t result from a local fire or accident)? Does that change things?
  • Each time one of our vendors asks for a certificate of insurance, does that increase our premium? What if they have to be named as an “additional insured” on our policy, does that affect us in any way?
  • If the boiler breaks and we have to have it replaced, is that covered under our building property coverage?
  • If we source any of our products from overseas, does that change our needs for product liability coverage?
  • If we sublet a portion of our office to another company, do we need to be concerned about their coverage or our coverage?