We all have the standard insurance that helps protect us and our finances, such as auto insurance and homeowners insurance. But are those policies enough to safeguard your assets if you’re faced with an extremely big claim against you?

On the latest episode of Advance Your Wealth, we’re joined by Jennifer Alimonda, Director of Private Client Solutions at Sterling Risk, and taking a closer look at personal umbrella insurance. Primarily, we're pinpointing just how important it can be if you have significant assets!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:21 - Who is Jennifer Alimonda?

2:48 - Jennifer's background with Sterling Risk and her experience with insurance policies

4:05 - What is personal umbrella insurance?

5:37 - Where an umbrella policy comes into play

8:10 - Are you covered in the event of a tragic incident with many lawsuits?

11:15 - The risks associated with having significant assets

15:55 - The amount of umbrella policy protection you should consider

17:57 - The factors that influence insurance premiums

20:42 - Personal umbrella policies are very broad

23:22 - Reach out to your broker and discuss the need for an umbrella policy

26:09 - How you can get in touch with Homer and his team

27:18 - Closing remarks

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