Insurance for Asset Protection
A good insurance agent will work with you to have the best possible protection for your situation. It is important to have a balanced plan. You don’t want to have a 12’ front wall and a 1’ rear wall. In insurance terms this means not having $500,000 liability protection for your home in combination with $20,000 liability coverage on your cars.
An example of an asset protection program might include ½ million of liability on a home, autos, RV's, boats, etc... Life insurance of 7 to ten times earnings can also be a part of asset protection. (Your life and ability to earn is a very important asset!)
The next level could be an umbrella policy. This starts where your other insurance ends off. Umbrella’s often start at a half million and larger amounts are available. Disability, health, and long term care insurance are other considerations.
This article is not enough information to make an insurance plan. My suggestion is to find an insurance agent you trust and develop a plan for your needs. Then update your coverage as your needs change. Texas residents are welcome to contact me at my Houston insurance agency
A good insurance agent will work with you to have the best possible protection for your situation. It is important to have a balanced plan. You don’t want to have a 12’ front wall and a 1’ rear wall. In insurance terms this means not having $500,000 liability protection for your home in combination with $20,000 liability coverage on your cars.
An example of an asset protection program might include ½ million of liability on a home, autos, RV's, boats, etc... Life insurance of 7 to ten times earnings can also be a part of asset protection. (Your life and ability to earn is a very important asset!)
The next level could be an umbrella policy. This starts where your other insurance ends off. Umbrella’s often start at a half million and larger amounts are available. Disability, health, and long term care insurance are other considerations.
This article is not enough information to make an insurance plan. My suggestion is to find an insurance agent you trust and develop a plan for your needs. Then update your coverage as your needs change. Texas residents are welcome to contact me at my Houston insurance agency
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