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PIAM offers a homeowners insurance program for physicians who reside in
Massachusetts.
Homeowners
The Homeowners Policy can be endorsed in a variety of ways, to extend your
coverage and provide protection for your specific needs. For example, you
may add coverage for:
• fine arts
• jewelry
• collectibles
• sports equipment
• watercraft
You may elect to expand your liability protection with the purchase of a Personal
Umbrella or extend liability to a rental property. Many of our
clients have a Home Business exposure, which should be addressed with an
endorsement to remove exclusions and significantly broaden your coverage.
Please keep in mind that all Homeowners policies limit certain coverages. For
example, theft of jewelry is often limited to $1000. Therefore, we
recommend you consider scheduling your valuable personal property, such as
jewelry, silver, fine arts, collectibles, computers, cameras and even your
golf or other sports equipment. The cost is quite reasonable and the
protection is substantially broadened to include just about anything that
might happen to your belongings.
Coverage for damage or liability as a result of Fungi, Wet or Dry Rot, or Bacteria – often
referred to as Mold Remediation Coverage - has been limited to $10,000 for damage
to property and $50,000 for liability protection. You may purchase higher limits
and we recommend that you contact us to learn more about this coverage limitation.
You may enhance your coverage with many additional options, such as Earthquake
or Flood protection, Excess or “Umbrella” liability, increased limits
for business personal property (medical equipment, medical library, home office),
increased costs for demolition and building, or any other insurance need.
Renters & Condo Unit Owners
We also offer Condo Unitowners policies and Tenants or "Renter" Insurance,
to protect your belongings and respond to your personal liability exposure.
Many Condo owners are unaware that their Association By-Laws may make the
unit owner responsible for insuring the walls, cabinets and fixtures in their
units. Uninsured renters are likely to regret the absence of insurance after
a theft or fire, when they discover just how expensive it is to replace their
apartment contents.
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