Private Client

Protect Yourself When You Travel

When you travel, things don’t always go as planned.  Sudden illnesses, accidents, and other emergencies are inevitable in life whether we like it or not.  While planning a vacation, the last thing you want to think about is something going wrong. Even the most minor situations can become more stressful while you are traveling and are away from the comfort of your everyday surroundings.

Travel protection allows you to travel confidently, knowing you have a plan in place to address life’s “what if” moments. There are numerous options for travel protection that will offer you coverage worldwide. It’s important to evaluate how often you travel, the types of destinations you are visiting, the length of your stays, and the activities you have planned when deciding if travel insurance is the right choice for you and your family.

Flight interruptions or delays, missed connecting flights, delayed baggage, and lost, stolen, or damaged personal items are extremely inconvenient.  Travel protection reimburses these unfortunate costs back to you. Many stressors on vacation are due to travel inconveniences and a travel insurance policy will allow you to fly the friendly skies with ease.

One of the worst things that could happen on a vacation is that someone in your party gets sick or sustains an injury. If you become injured or have a medical emergency, the cost of treatment could be covered under a travel protection plan. This may include travel expenses to get back home if necessary.

While there are many parts to your vacation, having a travel insurance policy helps put your mind at ease because you know that you are covered no matter where you are. Be sure to speak with your agent to make sure you’re covered anywhere in the world.  At the end of the day, you need to surround yourself with confidence in the level of your protection wherever your travels take you.


ABOUT THE AUTHOR

abbey bouchard

Abbey Bouchard, a Client Advisor in the Private Client division of Bouchard, specializes in high net worth personal insurance that focuses on affluent individuals with more complex insurance portfolios and exposures. As a third generation Bouchard working for Bouchard Insurance, Abbey’s purpose is to continually better serve the affluent client base by promoting exemplary service and always putting the client first. | Connect on LinkedIn

Does My Credit Affect My Car Insurance Premium?

When it comes to auto insurance, there is never a one-price-fits-all scenario. While there are many factors that cause the costs to vary from driver to driver, carrier to carrier, and state to state; did you know that your credit history can impact your car insurance premium?

Insurance companies will only use a soft inquiry when pricing your coverage. These types of inquiries will not affect your credit score and you can shop your coverage around until you find the policy that fits you just right. Using a credit-based insurance score when determining premiums helps to better predict insurance losses. It has been shown that individuals with higher credit-based insurance scores typically have fewer claims over time.

While several factors contribute to determining an individual premium, some factors related to your credit that may be used are your payment history (including delinquencies or late payments), the length of your credit history, and the types of credits (e.g. credit cards or loans).  Using a credit-based insurance score allows you to possibly even pay a lower premium than if your credit wasn’t used as a factor during the quoting process.

Being that your credit score often changes, it is important that you talk to your agent on a yearly basis to make sure you are getting the most out of a credit-based insurance premium.


About the Author

Lisa Rice Linkedin.jpg

Lisa Jewell is an Advisor in the Private Client division of Bouchard. Lisa specializes in high net worth personal insurance that focuses on successful individuals with more complex insurance portfolios and exposures in all 50 states.  | Connect on LinkedIn

Breaking Down Personal Liability Insurance

Personal liability risk continues to evolve in response to changes in the law and societal attitudes. No matter how careful you are, there’s no way to predict what life may throw at you. Liability coverage provided within your homeowners, auto, and boat policies is considered primary insurance and responds first in the event of a claim. Personal excess liability (or umbrella) insurance responds after primary coverage limits are exceeded.

 Photo by gzorgz/iStock / Getty Images

Personal excess liability insurance has high coverage limits that can provide you with worldwide liability protection with features such as excess uninsured/underinsured motorist coverage, not-for-profit board liability coverage, employment practices liability insurance, and shadow defense costs. As an affluent  individual, you must maintain a greater awareness of shifting dangers and seek expert advice to develop a comprehensive plan to protect your assets, future wealth, reputation, and lifestyle.

Here are a few of our suggestions

  • The agency should have a well-defined process for periodically reviewing your physical assets such as your home and your car, your financial assets (both current assets and future earning potential), and your lifestyle – only a combination of understanding these three aspects can accurately assess your level of liability risk.

  • Resist the temptation to choose a carrier based on price alone. Your advisor should be able to help you understand the value of a carrier based on coverage, financial stability, and service quality.

  • Ensure that the liability components of your auto, home, watercraft, umbrella, and other personal insurance policies work together as a seamless plan; making sure there are no gaps in coverage.

  • Purchase the level of coverage to meet extreme cases, not the likely cases – liability settlements and verdicts can exceed $20 million.

  • Make sure your advisor knows if you employ household staff – you may need workers compensation and employment practices liability insurance (EPLI) as part of your policy.

The more complex your lifestyle, the greater the chance of the unexpected coming your way. Personal excess liability insurance can protect your assets from unforeseen accidents and mishaps that simply may be out of your control.  Having the proper liability protection in place can give you the peace of mind to enjoy the fruits of your labor and the people that mean the most to you.


About the Author

KatieDierks_HS-KHP-18-small4web 2.jpg

Katie Dierks is a Certified Personal Risk Manager who specializes in liability protection for successful individuals.  She takes a holistic approach in designing an insurance program that mitigates the potential threats to her client’s assets and lifestyles. | Connect on LinkedIn

Chubb Cornerstone Designation

Bouchard’s Private Client team received the prestigious 2017 Chubb Cornerstone designation.

Cornerstone-2017-PRS_FNL.png

Sara Riggs, Chubb Assistant VP and Personal Lines Manager for FL, AL, and MS, presented the award during a celebration breakfast. Only 3% of Chubb’s agents qualify for the designation each year thus receiving the award is true cause for celebration! Private Client proudly displays the Cornerstone logo as a symbol of our commitment and partnership with Chubb providing our members with the best in industry products, coverages, service, and protection.

Chubb is a leader in the insurance industry not only in size and longevity, but also because of their continued dedication to be the best at what they do. And it’s because of that excellent reputation that being a Chubb agent is an honor. As a Chubb Cornerstone Elite Agency, hand-picked by Chubb based on our experience, expertise, size, and commitment to high service levels, we have special access to their senior management and 24-hour customer service. We also have direct access to senior claim professionals and have been assigned a dedicated Chubb liaison as a single point of contact for all concerns and issues relating to claims.

With 6 offices throughout Florida, and licenses to write policies in all 50 states, Bouchard’s Private Client team is dedicated to maintaining the Cornerstone designation, which must be earned every year. Our well-trained advisors and experienced team of service professionals boast a 97% member retention. Contact us today at 727-451-3880.


About the Author

Karen Reyes Linkedin.jpg

Karen Reyes is the Vice President of Private Client at Bouchard Insurance. Karen's team focuses on complete personal portfolios for affluent members including annual reviews and concierge style service. | Connect on LinkedIn

What Happens to Your Automobile During a Storm?

Hurricane season is in full swing. As an insurance advisor, it is my responsibility to educate my clients so they feel confident in their insurance coverages when a storm arises. It’s easy for someone to look at insurance as an afterthought, without realizing the potential impact it could have on someone.  Every year we see these disastrous storms do life-altering damages – and we need to be ready.

Photo by CHRISsadowski/iStock / Getty Images

Hurricane preparedness is a popular topic in the media and cannot be stressed enough.  Instead of focusing on how to prepare for a hurricane, this article is meant to educate you on the coverages that are significant when it comes to being as protected as possible in the event of a storm.

To most people, the primary concern during a hurricane is protecting your home.  Although wind and flood coverages are crucial, other insurance policies are often overlooked.  Have you ever wondered what would happen to your vehicle if it floods or if the wind blows a tree on it? Even though this can happen in the blink of an eye, not many people worry about whether or not their auto is fully insured in regard to a storm.

Did you know that an estimated 500,000 vehicles were destroyed in the Houston area alone during Hurricane Harvey?  This seems unreal; however, it happened and with little warning.

Flood

Flooding is a major concern with hurricanes.  Since automobiles are usually parked in flood prone areas, it’s important to know what line of insurance will cover your auto if it floods: auto insurance or flood insurance?  You might be surprised to find out that your auto insurance will cover the flood loss if you carry physical damage.  Comprehensive coverage is not automatically included into your auto policy; however, it should be added.  Make sure to double check with your insurance advisor to see if you have this coverage.

Falling Objects

With hurricanes come falling trees, telephone lines and poles, roof collapses, etc.  If your vehicle is parked in your garage, does your homeowner’s or auto policy cover it if the roof collapses? In this example, your auto policy will still cover the loss if you carry comprehensive and collision coverages.  The same goes for any other falling object, such as a tree or pole. 

Evacuating

When you are forced to evacuate, it’s an extremely stressful time.  People are on a mission to get out of the area fast.  Driving out of town becomes extremely dangerous due to the amount of people on the road.  Make sure to look over your liability and uninsured motorist’s coverage to make sure you have enough in case an accident occurs.

Hurricanes are unpredictable and can change paths at any time.  Before you are forced to evacuate or decide to “hunker down” for a storm, review your auto insurance with your advisor.  Not only will this give you confidence that your auto will be covered for physical damage, but will also give you peace of mind.


About The Author

Abbey Bouchard.jpg

Abbey Bouchard, a Client Advisor in the Private Client division of Bouchard, specializes in high net worth personal insurance that focuses on affluent individuals with more complex insurance portfolios and exposures. As a third generation Bouchard working for Bouchard Insurance, Abbey’s purpose is to continually better serve the affluent client base by promoting exemplary service and always putting the client first. | Connect on LinkedIn