Property and Casualty
We are now officially a licensed property and casualty firm in Missouri
Richard James and Craig Henley are both now licensed personal and commercial insurance agents in Missouri along with Baron Financial Group, LLC receiving their official agency license.
We are proud also to be able to say we offer the same independence in using personal and commercial insurance as we do in the investment world. Having choices are paramount in making the most correct and unbiased decisions in making your financial and insurance decisions. We offer several carriers that all specialize in different areas to help make sure your insurance coverage is appropriate for your needs, not just the cheapest option. Give us the opportunity to shop what you have and make sure your coverage is correct for your needs. If we find that you have the appropriate coverage, then we will gladly tell you and you can sleep better at night knowing that your agent has done their job. Let us help give you that peace of mind.
Another trend we are seeing in doing all these assessments is over or under insurance. We have an individual with a 500k house, 3 investment properties, a lake house, a boat, a motorcycle, and plenty of money in the bank with a deductible of $250 AND has not had a claim in over 10 years. If you have the assets to do so and have a good driving record, you might consider bumping up that deductible as it could help lower your premiums. Another trend that we’ve seen is someone with the aforementioned assets with MINIMUM liablity limits. Please think about what is at stake. Is full coverage more expensive than the bare minimum amount of coverage? Yes. Is it worth the extra money on a month to month basis to cover your net worth? Yes! This is also a good case for an umbrella liability policy. The policy is very inexpensive and the coverage will help protect the assets that you have worked hard to accumulate.
These are just a few trends we are noticing that are alarming and I am sure there are many more. Just make sure you have your insurance reviewed annually and know your coverage. Not just that your broker knows your coverage. I promise when it comes time to write a check you were not covered for, you and not your broker will be writing that check. Make sure it is the other way around.