Five Essential Personal Insurance Tips

April 7th, 2014

At Hays, our Private Client Group works to insure protection for every lifestyle. Whether it’s Home and Auto, Directors and Officers liability, Life Insurance, Disability or Long Term Care or unique areas of risk, such as kidnap and ransom, aviation, equine, or valuable articles, we’re here to help.

With expertise in the industry spanning 35 years, we have gathered five essential tips you need to know to protect your home and other assets:

1. Your Advisor Should Help Organize your Insurance Program.

With numerous assets acquired over time, it’s common to insure them with many different programs, often leaving your assets unorganized and expensive to manage. This can lead to gaps in coverage that will only be revealed when a claim is unexpectedly denied.

2. Be Presented With Options.

The benefit of retaining an independent insurance agent or broker is that they are working in your best interest. You should be frequently presented with options to organize your coverage.

3. Have Enough Personal Liability Insurance.

If a lawsuit puts your assets at risk, the last thing you want to worry about are insufficient limits. Make sure your liability coverage limits exceed your net worth. The Hays team can help you determine this value.

4. Be Certain of Your Insurer’s Financial Strength.

Always look for financial stability when choosing your insurer. It’s important your provider is strongly capitalized and will be able to pay your claims. Look for insurance companies rated “A” or “Excellent” by A.M. Best.

5. Work With High Net Worth Insurance Specialists.

Complex insurance situations require specialists. If you have a net worth of $2 million or more, most insurance carriers are not equipped to address your complex personal risk management needs.

Hays Private Client Group thrives at being problem-solvers in complex insurance situations. To contact us or to discover how we can keep your valuable assets protected, visit us here. Come experience The Hays Difference.