Your First Line of Defense: Insurance
The idea behind modern insurance goes back to seventeenth-century London, where merchants—recovering from the devastation of the Great Fire—began pooling funds to cover losses. That same principle of shared risk now supports nearly every part of the global economy. The U.S. insurance market, valued at approximately $1.7 trillion, remains the largest in the world and protects individuals, businesses, and families from financial loss.¹
Although recent changes in the insurance landscape have left many paying more for less, insurance continues to serve as a foundational layer of financial security. It's still your first line of defense when protecting your assets and your legacy.
Homeowner's Insurance: Protecting Your Biggest Asset
A recent ValuePenguin study found that two-thirds of homeowners experienced rate increases in 2024, and 25% received nonrenewal notices.² Half worry their homes may soon be uninsurable. Almost a quarter are reconsidering whether homeowner's insurance is still worth it—especially as customer satisfaction hits a seven-year low.³ ⁴
Despite rising costs, skipping or reducing coverage could be a costly mistake. For many Americans, their home represents their largest asset. Regularly reviewing your policy, bundling where appropriate, comparing quotes, and ensuring coverage keeps pace with rebuilding costs are critical steps in maintaining long-term protection.
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Typical coverage: Home insurance generally covers rebuilding or repairs from events like fire, storms, vandalism, or theft. It includes personal property, liability for on-site injuries, and temporary housing if you're displaced. Flood and earthquake damage require separate policies.
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Coverage needs: Make sure your policy reflects today's rebuilding costs. Also include adequate coverage for personal belongings and liability. High-value items like jewelry or artwork may need additional riders.
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Estate planning implications: Because your home is likely a key component of your estate, keeping it properly insured is essential. Cutting coverage to save money may jeopardize the security of what you leave behind for your family.
Renter's Insurance: Affordable Protection for Your Belongings
With rising homeownership costs, renting has become a more practical option for many. *Nationally, the average mortgage now costs 38% more per month than rent.*⁵ As a result, more Americans—including high-income earners—are choosing to rent.⁶
Renter's insurance is a low-cost, high-value way to protect your belongings. At just $15 to $25 a month, it offers significant peace of mind—though only 37% of renters currently have it.⁷
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Typical coverage: Renter's insurance typically protects personal property—like electronics, clothing, and furniture—against theft, fire, or water damage. It can also cover liability and temporary housing costs. High-value items may require riders. Business-related activities conducted at home may need separate coverage.
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Coverage needs: Start by estimating the value and replacement cost of your belongings. A photo inventory can streamline this process.
Let's Protect What You've Worked So Hard to Build.
Book a quick consultation to review your current insurance and asset protection plans. Let's make sure your future—and your family's—is secure.
