skip to main content
X

How Much Insurance Do Your Clients Really Need?

How Much Insurance Do Your Clients Really Need?

In the case of disaster or emergency, insurance can serve as a financial cushion against loss. But as premiums continue to rise, an important question begins to take shape: How much coverage is enough?

When it comes to property insurance, Partner F. Michael Zovistoski said the insurance should cover the true value of what is being protected. "We typically ask our clients to periodically evaluate their insurable property and consider obtaining appraisals," he said. "Our recommendation is always to insure the property for replacement value or appraised value."

Even then, some client don't feel it's enough, and "it becomes a security blanket," Zovistoski said. At that point, he said recommendations to cut back can leave clients feeling "separation anxiety."

 

Read the full article published by Financial Advisor Magazine.

Have a Question?

Fill out the form to speak with Mike

Hide Firm Disclaimer

©2023 UHY LLP. ALL RIGHTS RESERVED.

UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc., and its subsidiary entities. UHY Advisors, Inc.’s subsidiaries, including UHY Consulting, Inc., provide tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors” and “UHY Consulting”. UHY Advisors, Inc., and its subsidiary entities are not licensed CPA firms. UHY LLP, UHY Advisors, Inc. and UHY Consulting are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP, UHY Advisors and/or UHY Consulting (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

On this website, (i) the term "our firm", "we" and terms of similar import, denote the alternative practice structure conducted by UHY LLP and UHY Advisors, Inc. and its subsidiary entities, and (ii) the term "UHYI" denotes the UHY international network, in each case as more fully described in the preceding paragraph.