Insurance Planning

Personal insurance is a key component in protecting your wealth and ensuring that your financial plan remains uninterrupted, even when life throws you a curveball. As part of the planning process, Blackhorn Partners offers an insurance analysis and optimization that examines your current coverages and lifestyle. Should any gaps of under- or over-insurance be identified, recommendations will be recommended for action.

Basics

Home Owner’s Insurance

Is your mortgage paid off?
Is your home part of an HOA or condo association?
Is your home considered historic?
Is your home deeded to a Trust or LLC?
Are you planning any renovations in the next 12 months?
Do you have a finished basement?
Does your home have a metal roof?
Do you store personal property off the premises (e.g., in a storage unity)?
Do you have a pool on your premises?
Do you have a trampoline on your premises?
Do you have a valuable collection in your home (e.g., jewelry, art, wine, spirits, coins, guns)?

Do you have smart home devices, connected devices, or engage in online activity in your household?
Do you host non-personal events at your home (e.g., fundraisers, non-profit events)?
Do you employ any household staff or employees?
Do you use your home for business purposes?
Do you have a child away at school?
Do you any animals on your property?
Does your home have solar panels?
Do you rent out your home as a short-term rental?
Do you own a second home?
Do you own vacant land?

Auto Insurance

Do you rent vehicles outside of the United States?
Is any of your vehicle customized (e.g., wheels, accessories, adaptive equipment, lift kit)?
Do you regularly use a company vehicle?
Are any of your vehicles titled to a non-household member?
Do you use a vehicle for racing or off-roading?

Do you use a vehicle in the course of business (e.g., driving to jobsites, listing or client appointments)?
Do you have an employee who drives your vehicles (e.g., nanny, medical care)?
Do you participate as a driver in rideshare services (including people, food, and package delivery)?

Life Insurance

Do you know where your policy packet is located?
Do you know how much the annual premiums and face amount of coverage are?
Does the policy build cash value? And, how can it be accessed?
Can the policy be converted into another form of insurance or annuity?

Have you experienced any major life changes (e.g., marriage, birth, divorce, remarriage)?
Have you acquired new assets or new liabilities?
Have you started a new job?
Is there a need to review beneficiaries?

Umbrella / Personal Liability Insurance

Do you participate is a non-profit organization as a director or officer?
Do you have a full-time employee on your premises?

Are you considered a high-profile individual?
Is your net worth over $5 million?

Employee Benefits

Most employees focus on their enrolled insurance benefits, such as: health, dental, life, disability, and eye care coverage. However, an employee benefits review is a strategic process to ensure that you are maximizing the full suite of benefits offered by your employer. Gathering all data on current benefits, reviewing employee handbooks, and exploring potential changes or additions/subtractions to your compensation package typically starts with insurance matters. In addition to insurance coverage levels, the following should also be reviewed:

Retirement Plans: matching contributions, vesting schedules, and plan options

Paid Time Off: vacation, sick leave, and holidays

Employee Assistance Programs: mental health support and counseling services

Financial Wellness Programs: financial counseling, loan assistance, and legal plans