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Identity Fraud Protection for High Value Homeowner's

By: Stacy Stafford | Posten on: Oct 8, 2015 8:52:00 AM

In the United States someone becomes a victim of identity theft every 2 seconds!


The risk of personal financial loss can come in many forms, identity theft seems to be rampant in today's world.  Sadly the perpetrators are not always strangers to the insured.  They can be trusted individuals, such as caretakers, financial advisers and private staff.

The standard homeowner's policy typically does not include identity theft protection. Although the policy does include some coverage for personal property, reimbursement is subject to a monetary limit.

Fortunately fraud protection is available! This coverage may be added as an endorsement to your high value homeowner's policy through a preferred writer such as AIG and Chubb.



  • Wealthy individuals are at a higher risk due to many points of access (number of accounts) and increased vulnerability
  • Every 2 seconds someone is a victim
  • 26 million US victims of identity theft
  • $25 billion in losses due to identity theft in US
  • 904 million number of records exposed by data breach in 2014


Exposure concerns:

  • Service employee (waiter, cashier, financial institution)
  • Workplace colleague
  • Cybercrime
  • Drivers license
  • Medical
  • Social security
  • Income tax return

Fraud protection responds to loss of money, securities and/or personal property due to:

  • Stolen identity
  • Financial losses committed by those with access to your checkbook, credit cards, 401(k), savings account or stocks and bonds
  • Unauthorized checking or savings account withdrawals
  • Unauthorized credit card transactions, including internet purchases
  • Donations to fraudulent charities
  • Telemarketing schemes
  • Robbery while at a ATM
  • Purchase of items that turn out to be fakes, frauds or forgeries
  • Legal fees
  • Lost wages due to time taken from work to restore your credit

 The standard homeowner's policy typically does not include identity theft protection. Although the policy does include some coverage for personal property, reimbursement is subject to a monetary limit.

While we enjoy all of the electronic gadgetry at our fingertips, this also increases our exposure to identity theft. By utilizing the Fraud Protection endorsement on the High Value homeowner's policy, the insured can be prepared and protected in the event they fall victim to this rising crime.



How to Quote:





If you have any questions or would like a quote, please contact Stacy@Stuckey.com.,  or visit our website at Stuckey.com

Waiver of Deductible for High Value Homes

By: Stacy Stafford | Posten on: Aug 20, 2015 9:55:44 AM


Waive your deductible with a High Value Home policy!


Deductible Waiver for Large Losses Endorsement is available with a standard deductible of $25,000. This endorsement allows the deductible to be waived for a covered loss exceeding $50,000. This endorsement is not generally available through direct writers on standard policies.



  • Market space is approximately $40 Billion
  • Size of HVH market is approximately 2,500,000 homes
  • 70-80% of the HVH polices are written by direct writers
  • HVH policies offer additional coverage for EPLI, Waiver of Deductible & Wildfire Protection
  • Average premium: $25,000
  • Minimum HVH premium: $7500 - $10,000
  • Better products with preferred writers and similar price with direct writers




  • Home values of $500,000 and up
  • Minimum 3 lines of business required by AIG
  • CAT prone locations Chubb requires a minimum of $15,000 in non-CAT premium


Exposure Concerns:

1)  Brush

2)  Wave wash

3)  Flood elevation

4)  Wind and hail

5)  Earthquake


 Key Underwriting Questions:

1) Who is the applicant

2) General loss history

3) What risk measures are in place

4) Any animals with a bite history


  • $1000
  • $2500
  • $5000
  • $10,000
  • $25,000
  • $50,000
  • $100,000



How to Quote:


If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com..

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Topics: Blog, HIgh Value Homes, high net worth insurance

Rebuilding for High Value Homes under Orindnance or Law Coverage

By: Stacy Stafford | Posten on: Jul 16, 2015 9:00:00 AM

"Is your coverage sufficient to cover ALL costs of rebuilding?"


Ordinance or Law coverge is designed to fill in the gaps after a covered loss.This coverage is trigged when you are required to comply with local law ordinance, statues' or building codes. These additional costs will be at the homeowner's expense.
The local municipality may not issue the necessary permits to repair a covered loss until all areas are in compliance with the mandated codes. This coverage has  3 components:
  • Coverage A: Coverage for loss to the undamaged portion of the structure
  • Coverage B: Increased demolition cost
  • Coverage C: Increased cost of construction

Costs associated with rebuilding can include the following:

  • Rewiring the electrical system
  • Installing hard wired smoke detectors
  • Hurricane-resistant roofs or windows
  • Rebuilding the entire home after a parital loss

How do you calculate the correct amount in Law and Ordinance coverage? By insuring your high value  home at 100% of the replacement cost assures your closest estimate of having the appropriate amount of coverage. By familiarizing yourself with the local building trends will aid you in calculating the amount needed to guard against your out-of-pocket expense.

 How to Quote:




If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Living Expenses in a High Value Homeowners Policy 4

By: Stacy Stafford | Posten on: Jul 9, 2015 9:02:26 AM


"Coverage for Living Expenses for High Value



The loss of a home is a devastating event to say the least for a family. Within the immediate chaos that ensues after such an event, the family is now faced with concerns such as, "Where will we live?" and "Is our coverage sufficient provide for our immediate needs?"

The coverage amount in a high value home policy is unlimited in most states based on actual additional living expenses until the insured can reoccupy their residence following a covered loss. Some of the features to this coverage are:

  • Help in locating temporary housing
  • Covers the increase in expenses until the insured can go home
  • Includes the cost of kenneling pets

Available coverage's may include:

  • Rent for temporary housing
  • Insurance policy taken out on contents in temporary housing
  • New account or "setup" fees for utilities at temporary rental home
  • Photocopies and expenses related to the claim
  • Moving costs incurred to move from the temporary rental home back into the rebuilt/reparied home
  • Reconnection fees for setting up utility and other related services at the rebuilt home
  • Pet boarding cost

Preferred carrier's will provide the insured with a temporary home that is in line with their current living standards.

It is important to remember the coverage for living expenses will pay for the additional expenses incurred after a covered loss.

By developing a relationship with your client will enable you to insure they have the proper coverage that will protect them if they should suffer a loss.

  How to Quote:



If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com

Topics: personal lines insurance

EPLI Coverage for High Value Homes 3

By: Stacy Stafford | Posten on: Jun 25, 2015 8:00:00 AM

"Employment Practices Liability Coverage."


What is Employment Practices Liability coverage?  Also known as "EPLI", this added coverage aids in helping to defray the cost of defense against allegations of employment related claims.
Many of your clients employ household staff such as Nannies, Gardner's, Kitchen Staff and Personal Assitants to assist them in the care and maintence of their high value homes.  This coverage encompasses specific liability needs and provides additional protection for your client. Employment liability can provide protection for:
  • Wrongful termination
  • Sexual harassment
  • Employment discrimination
  • Reputational injury

Coverage limits available:

  • $250,000 - $500,000 per occurrence
  • $500,000 annual aggregate
  • $10,000 deductible per occurrence

Additional coverage for reputational injury:

  • $25,000 per occurrence/annual aggregate
  • $50,000 per occurrence/annual aggregate

In addition to the above, preferred writer's will also conduct a background check on your household staff.  Coverage can be provided for up to 12 employees or fewer, including part-time and full-time employees working more than 15 hours per week. The insured would need to have $1,000,000 excess liability policy in place.

In your pursuit to ensure your clients are properly covered, this is certainly an avenue worth your investigation! Remember employment liability is not just for your commercial clients anymor 

Affluent Customer Insurance Opportunity:

Standard Liability Limits

  • Minimum: $100,000
  • Maximum: $500,000

Preferred Liability Limits

  • Minimum: $300,000
  • Maximum: $1,000,000

With preferred policies these coverage's are extended worldwide. In this most litigious evironment in which we live, it is most prudent to protect your client's assests and their way of life they are accustomed too.

In addition to the liability limits offered within the homeowner's policy, your insured may want to add an excess policy that will provide coverage after the initial liability limits have been reached. Preferred writer's offer excess policies up to $100,000,000.

How to Quote:


If you have any questions or would like a quote, please contact Stacy@Stuckey.com or visit our website at Stuckey.com


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