Episode 28

Published on:

24th Apr 2023

Advance Your Wealth - Do You Need a Personal Umbrella Policy?

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!


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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About the Podcast

Advance Your Wealth With Homer Smith
Financial advice to generate the results you expect and desire
Advance Your Wealth With Homer Smith provides you and your business with the financial advice needed to make calculated decisions moving forward. With over 18 years of industry experience, Homer Smith, Private Wealth Advisor with Konvergent Wealth Partners, understands the importance of a commitment to customer service and strives to help clients pursue their financial goals towards aspirations and retirement.

Each episode we'll take a deep dive into a different complex topic surrounding personal and business wealth management. So sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

Investment advice offered through Integrated Financial Partners, doing business as konvergent wealth partners, a registered investment advisor.