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Why You Should Spend More than 15 Minutes Planning Your Insurance Portfolio

October 5th, 2013 by admin

insurance portfolioInsurance is the red headed step child of the financial services industry. Generally people are required to have insurance, and it is often looked on as an additional expense at a time with another large purchase is being contemplated. For example, when shopping for a new car, many people wonder what the car is going to cost, what the gas mileage is going to be, and finally what the insurance is going to cost. When budgeting, insurance often gets the fuzzy end of the lollipop. Another example is purchasing a new home. First the home has to meet your needs. Second the mortgage payment has to fit the budget, and it is generally in escrow when people begin to think about the insurance needed to protect what may well be their largest single investment. Yet a tertiary concern is to bundle or not to bundle. That is always a question, yet is often rarely or seldom asked. Few people purchase their home and their car in the same year. There is a modern prevalence to use large mono-line direct insurers that promise to save $300. To which one may ask, what good is it to save $300 a year, but be far more exposed than necessary? Add other important insurance complications like life insurance or health insurance, and before you know it, you've got more insurance questions than can be properly discussed in 15 minutes. Fortunately there are alternatives. We offer an annual policy review to compare your liability limits, and review your protection to see if there are customized policy contracts that will better fit your needs. Just like a tailored suite fits better than one off the rack, we hope to design a risk management strategy that best meets your needs without breaking the bank.

Posted in: Insurance