Risk Assessment Checklist for You and Your Family

Financially successful individuals and families tend to have more complex lifestyles and a higher risk of insurable loss than the average American.

Financially successful individuals and families tend to have more complex lifestyles and a higher risk of insurable loss than the average American. Too often, they have outgrown their existing personal insurance coverage, leaving their wealth and lifestyles vulnerable should a major accident, lawsuit, or other form of loss occur.

The following questions address some of the most common indicators of a higher-than-average personal risk profile. If you answer “Yes” to any of them, you are likely to have specialized insurance needs that call for a customized insurance program. Do you:

Home

• Own multiple, high-value homes in multiple states?
• Own a home in a foreign country?
• Own a condominium as a second residence or investment?
• Own property located in a catastrophic loss area?
• Plan to remodel or expand an existing home?
• Own a home with historic features or unique building materials?
• Have a guest house, pool, or other high-value structures?

Personal Property

• Co-own or have property titled in trust or an LLC?
• Have significant collections of art, cars, or other valuables?
• Own antique cars that are used on a limited basis?
• Own aircraft, large boats, or thoroughbred horses?
• Have full- or part-time domestic help?
• Have a child away at school?

Liability

• Have a high-visibility career or lifestyle?
• Serve on boards of profit or not-for-profit organizations?