Risk Conversation

New Year’s resolutions can take many forms: a new diet, new exercise routine, or the end of your worst habit. The most common, however, involves financial wellness.

To help you stick with that resolution, here are a few helpful hints:

1. Talk to your financial advisor about surprising risks to your investments: You might not be aware that flooding, home improvements or accidents can have a devastating impact on what is often your largest financial asset—your home. By having a conversation with your financial advisor, they can help you understand what’s at stake and the full scope of your exposure.
2. Connect with a knowledgeable independent insurance agent or broker. Many property and casualty risks can effectively be managed through insurance. In talking with an independent agent or broker, they can provide risk mitigation best practices to help you avoid a property loss or claim.
3. Annually review your property and casualty coverage. Your risk circumstances are constantly changing. So, it is important to speak with your independent agent or broker on an annual basis (at minimum). They’ll know the right questions to ask to probe those changes, ensuring you are sufficiently covered. 

Carrying out all three tactics will help get 2019 off to a great start.

Fran O’Brien is Division President, North America Personal Risk Services, Chubb.