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Many individuals and businesses fail to realize the importance of insurance coverage until they actually need it. At FailSafe Advisers, we work to enlighten you on the risks you face, in order to find the best way to minimize your exposure and protect the things you care most about. We aim to educate our clients on the coverages available to them and continue service beyond, with policy renewals, and in the event of a claim.
FailSafe Advisers offers insurance solutions from their Willow Grove, Pennsylvania office to individuals and businesses across the state of Pennsylvania and New Jersey. Through our independence, we strive to educate the community on the best options for their insurance needs. We can provide an assessment of your insurance needs with a choice of which package fits you best bundled with competitive rates and reputable and top-rated insurance carriers.
Just make one call to our agency, and we’ll ensure you have the coverage you need to move forward with confidence.
HNW/Affluent insurance provided
by FailSafe Advisers.
HNW/Affluent insurance is a customized policy type that protects clients from these risks—from home insurance to travel insurance and much more.
The Advantage of an Independent Agency Working for You
What makes our independent agency different?
- We represent multiple insurance companies.
- We are licensed insurance advisers.
- We are by your side every step of the way.
- We offer a wide variety of insurance solutions.
- We are there for you in your time of need.
“I was not well versed with insurance either for home, auto, or business; however, Mike was extremely helpful in providing candid and honest advice. He is patient and very knowledgeable when it came to educating me as well as answering my questions. Very resourceful, and I would recommend him to others.”Jane LyPersonal Insurance Client
“I always feel secure with FailSafe Advisers. Mike always is on top of things making sure I have the best coverage for all my needs. His expertise is unmatched, and I would highly recommend his services as he really cares about his clients and is very thorough. He is always available to answer whatever my concerns may be.”William MulvennaPersonal Insurance Client
“Mike takes a no-nonsense approach to your insurance placement, which is an asset to anyone looking for either personal or commercial insurance. He understands coverage and conveys it in a way anyone can understand.”Holden McKinneyPersonal Insurance Client
Real clients. Real reviews. Real coverage.
“If you are looking for someone who will be your insurance advocate and cover all your bases for either personal or business, no one does it with more attention to detail than FailSafe Advisers.
– Victoria Satterthwaite
What Makes FailSafe Advisers Special
Here’s what sets us apart when it comes to serving your insurance needs.
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Get a glimpse of the risks you face and how your insurance can protect what matters most.
Whether entering from outside your home from a flood or from within your home’s plumbing system, water damage is the most common cause of loss to a home. Many policies exclude losses caused by backup of sewers and drains, and all un-endorsed homeowner policies exclude damage caused by a flood.
Careful review is essential to protect your home and belongings from all sources of water damage. We recommend coverage solutions from insurance companies that include backup of sewers and drains. Also, identify cost efficient solutions to address the risk of flood damage in the first place.
Valuable Possessions Coverage
Typically, there is a sublimit on homeowner insurance policies for valuable possessions, such as jewelry, furs, fine arts, and other collectibles.
Schedule your valuable possessions to ensure you’ll have the money to replace them.
Collector or classic vehicles often have significant value and require special documentation and unique insurance coverage to ensure they are adequately protected.
Insure your collector cars with a specialized insurance company that focuses on and understands the unique nature of collector or classic cars and other vehicles.
Cyber Risk Coverage
With more smart technology in homes and technology at your fingertips, malware, hackers, and other cyber threats can jeopardize your security, finances, and reputation.
Identity theft, personal injury, and cyber risk coverage may be available as an important add-on coverage to your homeowners policy.
Workers Compensation / Employee Practices Liability Insurance (EPLI)
Employing domestic staff in your home can have risks associated with them. They can become injured on the job, leaving you to pay out-of-pocket for their medical expenses. Additionally, staff can sue for wrongful termination, privacy issues, discrimination, and harassment claims.
Depending on the state, workers’ compensation coverage can be added by endorsement to your homeowners policy or as a stand-alone policy. It provides coverage for medical expenses when your staff are hurt while on the job. Additionally, employment practices liability insurance can protect you from high legal costs associated with lawsuits and additional claims from current and past employees.
Additional Living Expense
When there is substantial damage to your home due to unexpected events such as lightning, fire, or a storm, you may not be able to live in your home until it can be repaired or rebuilt. As a result, you could incur additional living expenses for lodging, food, and other daily needs.
Look for coverage that provides higher limits to ensure that your schedule and your standard of living is not compromised. Additional living expense coverage compensates you for the costs incurred for housing and other living expenses if a covered event makes your home temporarily uninhabitable while it’s being repaired or rebuilt.
Excess Liability Coverage
You invite guests over for a pool party and one of them dives into the shallow end of the pool and is permanently injured. They hire a lawyer to represent them and after a long legal battle, you and your family are left financially responsible for their injuries.
An excess liability (or umbrella policy) increases your personal liability limits by adding protection over and above your current auto, boat or homeowners policies. Excess liability insurance is available as separate coverage and offers additional peace-of-mind knowing that you have the protection you need.
Most fires are devastating. Besides the emotional impact, the physical damage to your home can be significant. If you lost your home to fire, do you have adequate insurance to replace your home and its contents? Remember, inflation rates on building materials and construction costs rarely track with real estate values. As a result, rebuilding a home can often cost significantly more than expected.
Make sure your homeowners policy contains replacement cost coverage with no cap. This protects you if the cost to reconstruct your home is higher than your current limit of coverage. And, be sure that your insurance includes rebuilding your home to code. Very often, local ordinances and building codes change over time, which may require additional costs.
In the unfortunate event that someone slips and falls while on your property, you and your family may be held liable for any injuries that result.
Your homeowners policy includes personal liability coverage to respond to incidents where injuries or damages occur to a third party where you may be deemed negligent. However, you should consider purchasing an excess liability policy to provide additional coverage limits to protect your assets in case a lawsuit is brought against you.
You do not have to live near a body of water to suffer loss due to flooding. With the changing weather patterns and more damaging storms occurring around the globe, flood losses are becoming more common in places that are not normally prone to flood damage. Your homeowners policy does not cover damage from flooding. Could your home be at risk?
Purchase a flood insurance policy to protect your home and covered contents from certain types of flood losses as designated by the National Flood Insurance Program (NFIP). In the U.S., a flood policy is purchased as a separate policy through the federal program (NFIP) or through a servicing carrier known as a write-your-own carrier. Additionally, you may be able to purchase excess limits on your homeowners policy to better protect your home.
Secondary Home / Rentals
Owning a secondary home or rental property has the potential of increasing your liability exposures.
Be certain that you extend the liability coverage under your homeowners policy to include your secondary home. You should also consider including the secondary home under an excess liability policy to provide for additional liability limits.
Affluent individuals travel internationally four times more than the average person, and many people assume there is automatic coverage that extends from their U.S. policies. This isn’t true. Auto liability is just one example, but other exposures often not considered are kidnap/ransom (a growing criminal business) and the complexities of navigating a foreign medical system in the event of a serious illness or injury while traveling abroad. Medical care in many countries is often sub-standard, and a “care facility” (hospital) could be far way.
Not many insurance companies provide the unique coverage needed for individuals who frequently spend time outside the United States, whether for personal or business reasons. It is important to work with those companies who not only extend auto liability outside the U.S., but also provide kidnap, ransom, and medical evacuation coverage. It is also important that these carriers have office locations outside the U.S. in the unfortunate event that claims services might be needed.
While your homeowners policy covers a wide array of perils, such as damage caused by a fire or a falling tree, it doesn’t cover some common types of problems that can occur to the equipment in or around your home. For example, a sudden surge from the local power plant might damage appliances, HVAC systems, or your home power generator.
Add mechanical breakdown coverage to your homeowners policy. If you have multiple homes, it can be purchased for each one individually. Keep in mind that while it does protect against major events, it does not cover normal wear and tear.
Special Event Coverage
Planning a wedding, bar mitzvah, bat mitzvah, family reunion, or other private event is stressful enough. The last thing you should worry about is severe weather (such as a hurricane) that could cause you to postpone the event. Or, what happens is a vendor goes out of business or declares bankruptcy before your event and you lose your deposit?
No matter how carefully you plan, things outside of your control can go wrong. Purchase insurance coverage for your event. It’s typically not very expensive and helps keep you focused on all of the things that go into making your event truly memorable.
Insurance companies often limit coverage to remediate mold that arises from a covered loss.
With many homeowners unaware of this risk or the limits of their own coverage, be sure to discuss the coverage options and loss prevention solutions to help reduce this risk.
HNW/Affluent Insurance 101
Make sure you cover the unique risks you face with HNW/Affluent insurance.
- Click on the hotspots.
- Discover your risks.
- Get the right coverage.