Luxury items motivate some of us to work hard, in the hope that we’ll be able to purchase the expensive merchandise one day, and they could be the reason some lottery winners end up broke a few years after buying their winning tickets.
If you find yourself in a position to own one or all of these luxury items, just keep in mind that costs of these goods continue even after the initial purchase. No matter how you end up with the wealth to buy any one of these products, you’ll want to protect your high-end merchandise with insurance. Whether you’re the agent or the policyholder, hard-to-insure luxury goods presents a number of insurance challenges. (continue reading…)