Insurance Should Be Key Component of an Asset Protection Plan

"Asset Protection" is not a substitute for insurance. In fact, insurance should be an integral part of protecting your assets.

There are many kinds of insurance. Each risk has to be evaluated on its own and a reasonable decision has to be made about the amount of appropriate insurance. For example, if you have teenage drivers in the family who are using your car, I would strongly recommend increasing your liability limits and making sure you have an umbrella policy.

Even when you have a lot of insurance, it is not necessarily a substitute for additional asset protection planning. Events can occur for which there is no insurance coverage. And damages could exceed policy limits.

All of this means that insurance coverage and other asset protection techniques go hand in hand. One is not necessarily a substitute for the other.

Tags:
Trackbacks (0) Links to blogs that reference this article Trackback URL
http://www.assetprotectionlawjournal.com/admin/trackback/301046
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.