William Bronchick’s Coaching
Explains about the Types of
Insurance for Asset Protection
William Bronchick is an experienced real estate advisor.
He has authored various books on real estate and has
mentored a large number of people on real estate issues.
In his coaching classes, William Bronchick tells about the
types of insurance for asset protection.
There are five types of insurance that can be availed by a
person for protecting his assets, exclaims William
Bronchick in his coaching classes. General Business
Liability Insurance, Malpractice Insurance, Director Liability
Insurance, Umbrella Liability Insurance, and Extended
The General Business Liability Insurance can be
reasonable and will cover a wide range of lawsuits from
personal injury claims to copyright violations. In
Malpractice Insurance, Lawyers, doctors, engineers,
architects, real estate brokers and other professional can
obtain malpractice or "errors & omissions".
This insurance covers goof ups that you and your
employees make in dealing with clients. This insurance can
be very expensive, depending upon the kind of business
that you are involved. The Director Liability can be so
precarious that many people refuse to serve on the board
of any corporation without director liability insurance.
This insurance is expensive and may not be necessary for
a small corporation. An umbrella policy is one that kicks in
after all other underlying coverage is exhausted. Umbrella
insurance does not cover other claims that are otherwise
not insured (e.g., breach of contract claim). A typical
homeowner's policy will cover basic liability claims against
you regarding the property. It will not cover general liability
claims unrelated to your property.
In his coaching classes, William Bronchick advises to
review your policies with your insurance agent as to
coverage issues and policy limits. If cost is an issue,
increase your deductible. A lower deductible on a policy is
general more expensive than a higher coverage limit for
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About William Bronchick
William Bronchick, CEO of Legalwiz Publications, is a
nationally known attorney, author, entrepreneur, and
speaker. Mr. Bronchick has been practicing law and real
estate since 1990, having been involved in over 1,000
transactions. He has trained countless people all over the
United States to become financially successful, speaking
to audiences of as many as 16,000 at "Get Motivated"
events sharing the stage with names like Rudy Guliani,
Steve Forbes, and Colin Powell.
His best selling book, ‘Flipping Properties' was named one
of the ten best real estate books of the year by the Chicago
Tribune. William Bronchick is also the co-founder and
President of the Colorado Association of Real Estate
Investors and the President and Chairman of the College
of American Real Estate Investors.