Most companies are in the habit of assessing risk to their business. But how often do you strategically assess your personal risk? Navigating the fine print of personal insurance policies can be a challenge. Your business insurance agent should be a partner, a trusted advisor and not just a cashier. This should be true for your personal insurance agent as well. So in the same way you would work with your agent to identify risk exposure to your business, so should you for your personal assets.
Most people are familiar with standard home and auto insurance but are unaware of where their policies may fall short. You can use this personal risk management questionnaire to help you identify areas where your coverage may fall short. Often times gaps in coverage start to appear as one’s net worth increases. Some additional insurance policies to consider are:
- Umbrella Insurance
- High Net Worth Insurance
- Life Insurance
- Watercraft Insurance
- Secondary Home Insurance
- Flood Insurance
- Off-Road Vehicle Insurance
- RV Insurance
- Travel insurance
- Liability insurance for In-home staff
At RiskSOURCE, we conduct thorough personal risk reviews like our 4-step Beyond Insurance process for commercial clients. We then design a customized coverage plan with ongoing review of your coverage needs. If you have any concerns about potential gaps in your coverage, please feel free to reach out to me.
Jean Mabry, Personal Risk Advisor