Signature Insurance For High-Value Items

Signature insurance is available as an add-on option for high-value items that require signature upon delivery, or packages requiring your signature upon receipt. Some services provide this feature free of charge while it can also be obtained at an additional cost.

Under General Obligation Law SS 5-701, an inquirer wishes to know whether an authorized insurer’s or reinsurers’ signature affixed to an insurance contract must be that of a licensed insurance agent.

High-Value Items

When we think of high-value items, our minds typically drift toward jewelry, collectibles and expensive electronics – but any item which would be difficult or impossible to replace should also be considered valuable and special care should be taken during transportation to ensure its safe arrival at its final destination.

Assuring your high-value items is easy. First and foremost, ensure they’re insured – this can be done through Signature insurance or our Luggage and Personal Effects policy – but an appraisal before shipping can also give us an accurate picture of their value, helping determine whether current policies’ limits are sufficient or whether additional protection may be required.

Signature confirmation upon delivery of high-value items can help to protect them from being stolen or left behind, and ensures they reach their intended recipient safely.

Printing any labels that might give away that you are shipping something of high value, such as “fragile” or “this package contains a valuable item”, may alert shady individuals that your package could potentially be worth more than other regular deliveries, leading to increased theft risk or other problems down the road.

Signature Insurance Importance

Though most individuals do not set out to commit insurance fraud, they may find themselves in situations that offer them the opportunity. While exaggerating a claim during negotiations may seem acceptable or cutting corners when applying for policies could save money, even minor misdeeds in insurance can have serious repercussions and even result in jail time and fines of thousands of dollars; such misdemeanors carry severe fines, prison terms, and irreparable reputational damage.

Fraudsters purchasing policies using false information face legal repercussions including fines and criminal prosecution; any losses suffered as a result of this are passed onto all policyholders who must pay higher premiums to cover losses from fraudulent policies.

Insurance Law SS 107 provides that an unlicensed employee of a licensed insurance producer may solicit business and take applications on behalf of an agent provided they are compensated on a commission basis for these activities, without delegating signature responsibility to an unlicensed employee. When it comes to New York Automobile Insurance Plan applications or those requiring affirmations and certifications, producers cannot delegate this task to unlicensed employees.

The National Insurance Crime Bureau (NICB)

The National Insurance Crime Bureau (NICB) and Coalition Against Insurance Fraud provide invaluable resources for consumers to recognize and prevent insurance fraud. Skilled fraudsters work day after day to take advantage of unsuspecting consumers looking to safeguard their assets by exploiting gaps in coverage or taking other unlawful advantage of consumers who don’t realize how vulnerable their assets may be.

Proof of Delivery

Proof of delivery (POD), commonly referred to as POD for short, ensures that products and services reach their destination on schedule. POD documentation can take the form of either paper documents with customer signatures, or an electronic version that tracks delivery details.

A Proof of Delivery document (POD) should contain details regarding the date, time and recipient details as well as a product or services delivery description that helps detect any damages or discrepancies during shipping processes. This allows companies to more quickly identify any issues.

Information regarding delivery personnel such as names and identification numbers are crucial components of a POD document, helping ensure that each shipment reaches the right recipient while also providing accountability for drivers.

Shipments that require insurance must be signed by either the insured or reinsured person; New York state law does not mandate an insurance producer sign every policy sold and delivered in New York; additionally, licensed producers can delegate signature duties to unlicensed employees if needed.

Extra Services

Signature insurance can be combined with additional services that provide proof of mailing and delivery information, for an extra fee, in order to offer maximum protection of valuable shipments as well as proof of their journey. Extra services can be purchased either online or by visiting any Post Office branch.

Conclusion

Signature Advantage from VSP gives members unlimited access to routine vision care and discounted access to laser eye correction services, along with medically necessary coverage such as access to a dedicated nurse practitioner and Part B prescription drug coverage with no deductibles or copays.

Signature Auto from Central is an industry-leading auto policy offering superior protection at an economical price, including liability, collision, uninsured/underinsured motorists coverages and other than collision coverages.

Gridiron Insurance Group and Signature Risk Partners have joined forces to deliver tailored specialty insurance solutions specifically tailored for Craft Breweries & Distilleries, Wineries & Vineyards and Golf Country Clubs. These programs cover property, general liability, liquor liability and excess liability coverage on a nationwide scale.