Scottsdale and Paradise Valley are on the map as top, affluent places to live. The demand for luxury property is high—it’s why buyers and sellers trust Valley Luxury Partners. Our real estate firm was founded by Robert Altshuler, a former attorney and wealth manager who caters to successful business executives, entrepreneurs, professional athletes and celebrities using a private banking client model. We know that high-net-worth comes with high risk; your real property and valuable personal property deserve top-tier protection. Use this spring season as a time to protect and safeguard your assets. Perhaps protecting your valuables also comes with reorganizing your space or saying yes to the luxury renovations you’ve had your eyes on.
Multi-million dollar estates, art collections, fine jewelry, yachts, private aircraft and the list goes on…
Whatever your holdings are, we can connect you with industry experts to help best protect your valuables and lifestyle. For example, storing delicate items such as fine art or jewelry requires a controlled environment with adequate security. Storage containers, totes and safes are a few methods people choose to store their highly-valued possessions. StoreageUnits.com is a storage facility that often works with high-net-worth clientele. Jessica Franklin and her colleagues offer secure storage solutions including temperature-controlled storage for artwork, wine, jewelry and other collectibles.
For those with a passion for collecting wine, investing in professional wine storage is the way to go. It’s arguably the pinnacle of the investment—keeping your highly valued wine…well, highly valued. Proper storage is especially important for those who have very fine wines in their collection. These types of wines need to be stored in prime conditions and the best way to do this is to keep the collection in a cellar maintained by professionals. After all, even the finest vintage can be quickly ruined if it’s not stored correctly.
Wine collectors with larger collections or who are more serious and invested may choose the professional wine storage option.
Enthusiasts and collectors alike will appreciate a local gem: Vinum 55. With locations throughout the valley, this wine concierge service gives you a safe and secure place to store your wine. Robert, himself, has a collection stored at Vinum’s Scottsdale location. The storage cellars have temperature sensors to ensure your collection is kept in pristine condition.
If you choose to work with a professional wine storage facility, StorageUnits.com has some suggestions on finding a company that is both legitimate and that you can trust. It is recommended to ask an array of questions to the cellars you’re considering before settling on one company. Be sure to ask about the storage area conditions as they are key in making sure your collection stays in pristine shape. The temperatures in the storage room should not fluctuate more than five degrees over the course of one year. Some companies will offer add-on insurance, which is a wise investment and may need additional consideration if you have an expensive collection. This insurance will protect you if there’s any damage to your wine that may be caused by a change in the environment and therefore altering the temperature or humidity in the cellar.
There are also a few red flags to keep an eye out for and take note of when selecting a wine cellar for your collection. Things to watch out for include: lack of wine knowledge, a super care-free attitude to storing wine (which is a technical process) or poor customer service overall.
As you devote time and care to storing your wine collection, you can also start thinking about the best ways to store your other expensive possessions. Considering the item’s size, quality and cost for replacement can help you decide on the best storage option. Smaller valuables can be safely tucked away into a safe deposit box, while larger or more delicate items should likely be kept in a climate-controlled, secure facility. It is always a good idea to make sure your homeowner’s insurance covers valuables that are kept in storage and, if needed, take the time to add special coverage.
Protecting your large and delicate luxury items may take more planning.
An art vault is a great solution to storing large paintings, sculptures or other valuable pieces. Climate-controlled storage with tight security is key. If you go this route, it’s recommended to check the facility’s temperature and humidity, which is recommended to stay under 50%. The material of the storage container also matters. You can ask if there’s a backup generator or any emergency maintenance options if something goes awry.
You should feel that all of your assets are secure.
Alliant Private Client knows exactly how to best protect it all. Leading family offices, wealth advisors, attorneys, accountants, fine art consultants and other professionals rely on Alliant to manage the insurance needs of affluent individuals and families. Megan Mayhall, our friend and Alliant Assistant Vice President, works alongside their personal insurance teams who are experienced problem solvers that can help identify where you’re being exposed to risk. Alliant has experts to break down obstacles and threats associated with running a business out of your home, short-term rentals, personal liability, yachts, private aircraft and so much more. They’ll look at what insurance you may have and then assess your needs, risk tolerance and vulnerabilities.
Unfortunately, anyone can have a lawsuit filed against them and be alleged for negligence whether it’s valid or not. In a situation like that, Megan and Alliant know that the wealthier the responsible person is, the greater the damages will be that the injured person will seek. With this knowledge, it’s important to be protected against any possible threats. Creating a coverage strategy will give you peace of mind. Alliant can help advise on the correct personal excess liability range to help protect you against costly lawsuits. The company gave an example of a woman who was injured diving into the shallow end of a friend’s pool at a party and who received a settlement of $10 million. Another woman was struck by a vehicle in a Manhattan intersection and was awarded nearly $30 million.
Alliant has been recognized for its great work. Most recently, the Private Asset Management Awards, which is often compared to the Oscars of the private assets management industry, crowned Alliant Private Client as the “Best High-Net-Worth Insurance Broker,” in its 2021 awards. The company was also named the “Best Insurance Brokerage Provider” in 2020 from the Family Wealth Report Awards.
The more expensive your possessions, the higher the loss that can be associated if something goes wrong.
Now is a perfect time to protect your wealth, investment and luxury goods. Our industry experts can provide risk solutions for your high-end estates, art collections, fine jewelry, yachts or private aircraft. If you’re interested in hearing more about Alliant Private Client or StorageUnits.com and having a conversation with Megan or Jessica, we’d be happy to make that connection. Is real estate and privacy on your mind as well? Check out our recent insight on Privacy, Estate Planning and Real Estate.
