The higher your net worth is, the more you stand to lose, which means you likely need more insurance coverage to protect yourself.
A strong homeowners insurance policy is a good place to start, but it’s probably not enough to fully cover all of your belongings or safeguard you against liability.
Have you been thinking about updating your insurance? Here’s what you should be considering.
- Umbrella Insurance: Umbrella insurance covers you beyond your car and home policies’ current limits, and it protects you against added liability. You might want it if you have high-liability features at your house (e.g., pools, sport courts), or if you host events on your property regularly.
- High-Value Item Riders: If you collect artwork, jewelry or other high-dollar items, your standard homeowners policy isn’t going to cover them if they get damaged, stolen or vandalized. You’ll need a rider just for those pricier belongings.
- Upgraded Vehicle Insurance: Do you have classic cars, a motorcycle, a boat or another special vehicle? You probably need upgraded insurance to cover those. If you have any vehicles that are driven by employees, those will need additional auto insurance as well.
- Identity Theft Coverage: This can help protect you against data breaches, malware attacks and other forms of theft that occur digitally. Look into it if you’re worried you may be a target for these sorts of activities.
If you’re looking to add property to your portfolio or want to get connected to a knowledgeable insurance agent who can help you choose the right products, reach out today.
