Insurance Can Make or Break Your Financial Plan
Having the correct property and casualty coverage is critical when it comes to protecting your assets. Lack of P&C planning may cause you to lose the ability to meet your life goals if disaster strikes.
For example, if your home gets destroyed by fire (and you have substantial equity in the home) but you are only covered up to 50% of the replacement value, this can be financially devastating.
Proper planning does not stop after the initial analysis and the insurance placement; you should evaluate your insurance situation at least every couple years, or more often if there are any significant changes, such as purchasing a new home or new car, or a dependent child receiving their driver's license.
Make sure existing policies fit together
If you have multiple policies with different agents and insurance companies, with varying expiration dates, it
