Protecting yourself and your assets


Valuable assets require protection. What would you do if a freak storm or five-alarm fire destroyed your home? Most Americans have a majority of their wealth invested in their principal residence, and an uninsured loss would be devastating. Thus, insurance companies provide protection against this risk by charging clients an annual premium. Insurers come up with this number based on actuarial tables that determine the likelihood of an event actually occurring. They refer to this branch of math as risk management.


Insurance of any kind is a product sold, not bought. Unfortunately, it’s a necessity in an expensive and sometimes dangerous world. No one wakes up and decides they want to buy insurance – most times, a friend convinces them that they need a particular type of protection and the process unwinds from there. When shopping, be sure to keep your eyes wide open.