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Personal Insurance
High Net Worth Families Overpay to be Underinsured
In a recent study by ACE Private Client Services (see right for more), 28% of clients of independent brokers and agents are missing savings opportunities in their insurance for their homes, autos, watercraft and valuables and 58% are underinsured, leaving them exposed to severe financial loss.
Savings credits for preferred risks are abundant with all underwriters, and without careful review on a routine basis, you are likely missing many opportunities to save on your insurance. Further your long-term planning for home improvements should incorporate enhancements which will reduce your risk of loss, and, in turn, reduce your cost of insurance.
More importantly, you may ask are you the 1 in 2 that is not buying enough coverage to adequately protect against severe financial loss. Often procuring adequate coverage can be achieved without additional cost simply by raising your deductibles and/or rebalancing at your coverage limits. Also, property and liability insurance is relatively inexpensive (with several hundred to several thousand year return periods as the norm), so increasing your limits to adequate levels coverage is usually proves to be a low-cost hedge.
Without a regular review of your assets, lifestyle and family circumstances, your coverage elections can quickly become obsolete. At J.W. Allen, we offer 2 levels of reviews: one to assess your exposures to design an efficient, tailored insurance program and a second level to review how you might reduce your exposures to loss and further reduce your cost of insurance further.
Call us today to allow us to see how you can pay less to be properly insured!
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Homeowners
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Condo’s and Co-ops
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Renters
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Valuable Articles
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Autos and Classic Cars
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Yachts and Watercraft
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Excess Liability (Umbrella)
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Motorcycles, Scooters and other Recreational Vehicles
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Aircraft
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Equine
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Kidnap and Ransom
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Identity Theft
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Private Events
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Travel Insurance
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In-home Business
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Builder’s Risk and Protection during Renovations
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Vacant Property
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Investment Property
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International Homes and Contents
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Properties titled in LLCs, Trusts, etc.
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Workers Compensation and Disability for Domestic Employees
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Family Office Practice
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