Insurance Advisor?

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Topic Author
investorhead
Posts: 23
Joined: Tue Mar 11, 2014 11:37 pm

Insurance Advisor?

Post by investorhead »

I'd like to review my insurance policies/needs. However, I find it very challenging to make well-informed decisions on coverage limits, risk mitigation, etc. I'd love to work with an advisor who could objectively review my situation and recommend insurance options for auto, home, umbrella (others?) based on my risk tolerance and needs.

Has anyone found a good resource for this other than calling each insurance company or working with brokers who only represent certain companies? There doesn't seem to be a great solution for finding the optimal insurance portfolio based on needs and life circumstances.
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Alexa9
Posts: 1872
Joined: Tue Aug 30, 2016 9:41 am

Re: Insurance Advisor?

Post by Alexa9 »

Ask away on here. I'm sure someone can help if you give more details about yourself.
Otherwise a CFP with an hourly fee might provide good advice.
Topic Author
investorhead
Posts: 23
Joined: Tue Mar 11, 2014 11:37 pm

Re: Insurance Advisor?

Post by investorhead »

Thanks - I'd rather not lay out my situation on the forum, just looking for someone that can take an overall view.
LarryAllen
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Joined: Fri Apr 22, 2016 9:41 am
Location: State of Confusion

Re: Insurance Advisor?

Post by LarryAllen »

Very difficult as they all want to sell something. A CFP or life insurance expert (which there are some) will be fine for reviewing life insurance but I don't think either of them will be worth much with P&C needs. For that you need a really experienced broker. Sure he'll want to sell you stuff but if he or she really knows their craft it would be worth it. Hard to find such a person. Lol.
Topic Author
investorhead
Posts: 23
Joined: Tue Mar 11, 2014 11:37 pm

Re: Insurance Advisor?

Post by investorhead »

LarryAllen wrote: Tue Apr 24, 2018 9:28 pm Very difficult as they all want to sell something. A CFP or life insurance expert (which there are some) will be fine for reviewing life insurance but I don't think either of them will be worth much with P&C needs. For that you need a really experienced broker. Sure he'll want to sell you stuff but if he or she really knows their craft it would be worth it. Hard to find such a person. Lol.
I know, seems crazy given it's pretty important you get the coverage right. Seems like a great business idea!
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Taylor Larimore
Advisory Board
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Joined: Tue Feb 27, 2007 8:09 pm
Location: Miami FL

Re: Insurance Advisor?

Post by Taylor Larimore »

Investorhead:

A life insurance Chartered Life Underwriter (CLU) designation is the most reliable professional designation a life insurance salesmen can obtain.

https://www.theamericancollege.edu/desi ... egrees/CLU

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
golfCaddy
Posts: 728
Joined: Wed Jan 10, 2018 10:02 pm

Re: Insurance Advisor?

Post by golfCaddy »

Chubb, AIG, and PURE all cater to the HNW end of the market. If you have specialized insurance needs or want more than $5M in umbrella, then those are the carriers I would look into.
boglerdude
Posts: 892
Joined: Fri Jul 10, 2015 1:28 am

Re: Insurance Advisor?

Post by boglerdude »

myabi.com is one of the better agents

But some administrative stuff is better not to outsource, ie do mostly your own research
jaxbmw
Posts: 20
Joined: Sat Aug 16, 2008 6:45 am

Re: Insurance Advisor?

Post by jaxbmw »

Not sure if you are talking life insurance as opposed to auto, home, umbrella etc.

We have relocated 9 times around the country and overseas. What I have found most effective is locate an independent insurance agent in my new town and let him look through my prior policies then discuss what he might recommend. This also would entail discussions on various liabilites etc.

The good thing about an independent agent is he is not locked into one solution. Additionally I then have one source that I can build a relationship with over time.

Has worked well for us.

JT
Topic Author
investorhead
Posts: 23
Joined: Tue Mar 11, 2014 11:37 pm

Re: Insurance Advisor?

Post by investorhead »

I'm talking auto, home, umbrella. Great advice, thanks very much, also going to try with an independent broker.
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