The document provides advice on choosing insurance to protect personal assets. It recommends choosing a qualified insurance agent you trust to explain available coverage options. The two biggest mistakes are not reviewing insurance annually and not increasing liability limits as wealth grows. It advises getting homeowners insurance with proper coverage amounts and liability protection, auto insurance for vehicle losses, and excess liability or umbrella insurance to cover catastrophic claims above primary policy limits.

1. Using Insurance to Protect Your Personal Assets
Choosing a qualified, professional insurance agent is as important as choosing any other business professional
(attorney, accountant, etc.). It is critical that you choose a broker with whom you feel comfortable and who is
willing to fully explain the coverage and products that are available.
The two biggest mistakes people make are not reviewing their insurance annually and not increasing their liability
coverage to keep up with their growing wealth.
Protect your largest asset with the right Homeowners/Fire insurance
Protect your real and personal property from physical damage from fire, theft, wind and other perils, as well as
bodily injury and property damage liability claims.
• Have a professional determine the proper amount of Dwelling coverage and
review that coverage annually
• Call your agent immediately if you remodel your home and/or add any
square footage
• Always buy a policy that includes Replacement Cost for your contents
(not actual cash value [ACV])
• Always buy a policy that has an Extended Replacement Cost endorsement
Avoid paying out of pocket for Auto, Watercraft,
Motorcycle and other Vehicle insurance losses
Vehicle insurance protects you from financial loss in the event of an accident,
as most large liability insurance losses occur as a result of a motor vehicle
accident.
• Carrying higher Bodily Injury & Property Damage coverage is to
protect your assets. The greater your wealth, the higher your
coverage limits should be.
• Motorcycles, dirt bikes, ATVs, trailers, motorhome, boats and jet skis
CAN be insured. Don’t overlook them just because they are only used occasionally.
Expand your protection with Excess Liability (Umbrella) insurance
Use an umbrella policy to cover a catastrophic liability claim and related attorney defense costs above and
beyond your underlying auto or homeowners policy limits.
• The umbrella policy covers all properties, residents, drivers and vehicles owned by your personally
• Include all your personal property, even out of state properties and rentals, in your umbrella
• Include all motorized vehicles and toys in your umbrella policy
4858 Mercury Street, Suite 214
San Diego, CA 92111
Phone: (858) 751-5888 • Fax: (858) 751-5999
www.koneckiins.com • License # 0E61914
Auto • Homeowners • Condo Owners • Renters • Umbrella • Dwelling Fire (Rental Properties)
Earthquake • Watercraft • Motorcycle • Course of Construction • General Liability • Commercial Property
Commercial Auto • Professional Liability • Group Health • Workers Compensation • Bonds