Planning for the risk of unknown events is a key component of a solid financial plan. There are many considerations to building a solid insurance plan and we recommend conducting an annual review with your insurance agent, particularly given changes to real estate values and replacement costs in recent years. If you are looking for an agent specializing in coverage for high-net worth individuals, we are happy to provide potential resources. Annual insurance considerations include:

Homeowners

• Does your policy allow you to repair or rebuild your home at today’s replacement costs?
• Is your property vulnerable to natural catastrophe (e.g., earthquake, wildfire, flood)?​

Health/long-term care/life

• Do you have a plan for coverage throughout retirement?
1. If retiring prior to age 65, will you have coverage prior to Medicare?
• Can you afford to self-insure your potential long-term care needs?
• Would your family need additional resources if you died prematurely?

Personal liability

• Is your coverage appropriate to your risk factors and net worth?​
• Common risk factors include pool, trampoline, dog, teenage drivers, public visibility, investment real estate, owning a business or employing staff.​

Additional considerations

• Are you a board member of a public, private or nonprofit company?​
• Do you have coverage for personal or cybersecurity threats?​
• Have you had any significant changes in personal status?