Insurance is a must have.

It may not be overly exciting to deal with and – more importantly – pay money for, but insurance does provide protection for our most financially valuable possessions. Most people that have had a claim (of any kind) soon realize the value of having insurance. Whether you’ve had a positive or negative experience with that claim, and other insurance dealings, makes all the difference.

A good broker provides not just piece of mind by providing insurance; they also take the time to get to know you, and to build a relationship. When your asset portfolio grows, so does your insurance needs. A good broker checks in on your insurance policies to make sure you have the right coverage, helps you find cost savings, and goes to bat for you when you have a claim.

Let’s look at this example:

I took a look at a friend’s personal insurance policy a few weeks back. In the past year, his family moved into a much larger and much more expensive home. With this new home they also purchased 2 new vehicles, a new gun for hunting, a new expensive watch, and their home came with an in-ground, heated pool. My friend was insured at the time with a direct writer, and was used to dealing with multiple agents working out of a call centre. After reviewing his home insurance, the only coverage that had changed to accommodate these upgrades was the replacement value on the home; it was increased. Everything else was standard from before. The gun and watch were not insured on the policy, and the overall liability limit was standard at 2 Million, even though the pool was enjoyed all summer by multiple visiting children. In addition to all of this, the water damage coverage was still the same amount that was on the old, less expensive home, and would not be sufficient in the event of water damage on the new home.

As you grow up, you acquire things, your exposures change, and your needs change.

Choose a broker that takes just as much pride in protecting your assets as you do enjoying them.

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