Personal Liability Insurance: 5 Tips

by Nov 15, 2016

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As we work with clients in building insurance portfolios, our objective is make them bullet-proof. Adequate liability insurance is an essential part of that objective.  It is key to have ample and accurate coverage against an unexpected event for which you may be held financially responsible and often includes litigation. Complete and proper liability protection is critical.

Having evaluated client needs for more than 40 years, we have a built a road map that guides us in building comprehensive plans for our clients. The road map includes a short list of essentials, here are the top 5:

  • Coordinate coverage – Each aspect of your insurance plan must synchronize with the others to eliminate any exposure
  • Know your exposure – There are many ways in which you might be exposed to liability, such as domestic employees or volunteer activities. It is essential to consider and protect yourself from every potential risk
  • Identify all parties – Estate planning typically involve trusts, limited liability corporations and partnerships. Those entities involved must be identified on your policies for coverage
  • Get adequate policy coverage – Policy limits can result in inadequate coverage, for important coverage like under-insured motor vehicle coverage
  • Add excess limits – Lawsuits are unpredictable and costly; be certain you have ample limits of liability coverage. Raise your deductible on property coverage and allocate those dollars to increase liability limits

Every situation is unique and so are the insurance needs. There is no set formula for how much and what type of liability coverage is the right amount. Take these tips, and review all of your potential risks. This is the first step to building an insurance portfolio that keeps you well protected.

If you have questions email Kyle at or call 203.698.9342.

Written by: Steve Shepard

Founder/Principal, Shepard Insurance Group. At Shepard Insurance Group we begin every relationship with a face to face meeting with the client. In a comprehensive discussion of coverage needs, personal concerns, objectives and finally appetite for risk, we can arrive at the proper insurance solution. Understanding the client is the first step to accurate execution.

November 15, 2016

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