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Financial Planning Information
Investment
Insurance
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Home/Auto/Personal Liability Umbrella Insurance Policies
 Home/Auto/Personal Liability Umbrella insurance policies need to be integrated with your financial planning to protect all of your investment assets, savings, future income, home and personal belongings. If these policies are insufficient to meet your needs you could lose some or all of these treasured belongings, forever.
Home Insurance - The Property and Casualty Insurance (P&C) agents we work with suggest the following as minimum coverage's to protect your assets:
| HOMEOWNERS INSURANCE | Current
Coverage | Recommended
Coverage |
| Policy Type | | HO-3 or higher |
| Dwelling / Residence Limit of Liability | | In New York State, at least 80% of the replacement value |
| Liability, Each Occurrence | | $300,000 |
| Medical Expenses to Others | | $5,000 |
| Personal, Property, Replacement Cost | | Yes |
| Deductible, Each Occurrence | | $500 |
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Auto Insurance - The Property and Casualty Insurance (P&C) agents we work with suggest the following as minimum coverage's to protect your assets:
| AUTO INSURANCE | Current Coverage |
Recommended Changes |
Liability:
Bodily Injury, Each Person
Bodily Injury, Each Occurrence
Property Damage/Occurrence | |
$300,000
$300,000
$300,000 |
Uninsured-Underinsured/Person
Uninsured-Underinsured /Occurrence
| | $300,000
$300,000 |
| Personal Injury Protection (PIP) | | $100,000 |
| Medical Expense to Others | | $0.00 |
| Comprehensive Deductible | | $50.00 |
| + Full Glass
Collision Deductible | | $500 |
| Rental | | Yes |
| Road Service | | Yes |
Personal Liability Umbrella Insurance -This insurance protects you from a lawsuit if either your home or auto insurance is exhausted from a lawsuit claim. Since no one can tell you how much you may be sued for, you should carry the amount that makes you comfortable, but we suggest at least $2 million.
You should consult a professional property and casualty broker that can shop your needs with many companies and will work as a team with your financial planner to make sure you have the proper coverage, at the least cost and with a quality company that will support you when you have a claim.
More Information:
If you would like more information to learn how to protect yourself before you have an auto claim click here.
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