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Insurance

At the cornerstone of any personal asset protection plan is insurance. You may be cynical about insurance and find yourself in agreement with Al Bundy of the old sitcom Married With Children who said, “Insurance is like marriage. You pay and pay but you never get anything back.”

However, the purpose of liability insurance is not to get anything back, but rather to protect your other assets if you find yourself in legal jeopardy. In addition, when it comes to your homeowners insurance or your automobile insurance, you are not only protecting yourself if a claim is made against you, you are also insuring that if harm comes to you or your property, money is available to remedy the situation. This is money that you would prefer not getting because it means that you have suffered a loss. Proper insurance coverage will help you sleep at night. It is a product that, if success is measured by money, you only win when you have suffered a loss.


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