Top ten errors affecting asset protection

Row-of-Homes
  • Inadequate liability limits and low home valuations
  • Low deductibles on homes & autos, adversely affecting premiums and claims frequency
  • Multiple agents in various states/insurance program not coordinated, causing coverage gaps, duplications and lack of proper updates
  • Exposures not listed on personal excess liability policies
  • Trusts, LLC’s, and FLP’s not listed as a named insured on policy when the asset is titled in such an entity
  • Failure to schedule or insure collections of jewelry, fine art, wine, and other collectibles
  • Lack of awareness of coverage limitations and options for specialty perils such as flood, excess flood, earthquake, mold, landscape, equine, etc.
  • Improper coverage often placed on farm and ranch properties
  • Failure to properly insure watercraft, antique autos, and other recreational vehicles resulting in property and liability coverage gaps
  • Lack of workers compensation and employment practices liability insurance for families with domestic employees