Insurance Policy Review Services for Risk Management | Hampton Tax and Financial Services, LLC

(Homeowners, Auto, and Umbrella Insurance)

Ensure comprehensive protection against unforeseen financial losses.
Identify coverage gaps, overlaps, and inefficiencies in current policies.
Align insurance coverage with the client’s evolving financial situation and lifestyle.
Integrate insurance planning into the broader risk management strategy of the client’s financial plan.

Evaluate current dwelling, personal property, liability, and additional living expense coverage.
Assess replacement cost vs. actual cash value coverage provisions.
Verify adequacy of coverage limits in relation to current home value and contents.
Review endorsements (e.g., flood, earthquake, jewelry, or fine art riders) as needed.
Identify potential underinsurance risks due to inflation, renovations, or asset accumulation.
Recommend adjustments based on updated appraisals or home improvements.

Examine liability limits to ensure sufficient protection against lawsuits and large claims.
Review collision and comprehensive coverage, deductibles, and premium levels.
Analyze uninsured/underinsured motorist coverage adequacy.
Evaluate usage-based insurance options and potential discounts.
Confirm correct titling and named insureds for family or business use of vehicles.
Ensure policy reflects current vehicle use (e.g., commuting, rideshare, or delivery).

Assess overall liability exposure from home, auto, recreational activities, or business ownership.
Verify that underlying liability limits on homeowners and auto policies meet umbrella policy requirements.
Determine whether the umbrella coverage amount is adequate based on net worth and potential legal risks.
Evaluate inclusion of additional risks such as rental property, watercraft, or volunteer board participation.
Highlight benefits of umbrella policies as cost-effective extensions of liability protection.
Recommend increased limits where there is heightened exposure or significant wealth.

Provide a summary report outlining coverage adequacy, deficiencies, and strategic recommendations.
Recommend policy changes when necessary.
Monitor policy updates annually or upon major life changes (e.g., home purchase, marriage, business formation).
Educate clients on the role of insurance in long-term wealth preservation and asset protection.
Ensure that insurance complements estate planning, retirement planning, and tax strategies.