For customers who need claim information related to damage from Hurricane Harvey
CLICK HERE for Commercial and Personal Claims Contact Info.


Cravens Warren

Serving the risk management and commercial insurance needs of business. Cravens Warren, founded in 1946, has been serving the insurance needs of... read more

Contact Info
  • 10011 West Gulf Bank
    Houston, TX 77040
  • Phone (713) 690-6000
    Fax (713) 690-6020
  • contact us
Client Account & Resources
Your Bill
My Documents
Risk Portal
Join Our List
Client Area

Personal Assets and How to Protect Them

By Ashley Western Hart | May 30, 2017
Personal Assets and How to Protect Them image

What is wealth?

Wealth is more than just dollars and cents, wealth is what you maintain. Proper insurance coverage helps by protecting your assets from risks that can decrease the value of your wealth. It’s important to ask yourself if you are adequately covered. Often, high-net worth individuals are not. These individuals think they are adequately protected but experience a gap in coverage crucial to protection of wealth. These gaps require attention above and beyond the scope of traditional insurance products. Below are some tips for adequately protecting your hard-earned assets.

Umbrella Coverage for Reduced Liability

The higher the net worth of an individual, the bigger the target for potential litigation. A simple fender bender can turn into a lawsuit when an individual appears to have deep pockets. An umbrella policy adds an additional layer of protection. Coverage picks up where the existing insurance policy leaves off, giving extra security and peace of mind.

Extensive Coverage for Real Estate

Owning multiple properties, including rental homes or vacation getaways can pose unique complications  to an otherwise diverse portfolio, especially when it comes to homeowners insurance. It is important to review each situation to be sure that personal property is covered. Some items, including jewelry or art, might require an additional endorsement to your current policy. Without the proper coverage and/or endorsements, a homeowners policy might not cover these items in the event of a loss.

Individualized Attention to Insurance Needs

Sophisticated asset protection requires a sophisticated agent educated in a variety of coverages as well as attention to each individual situation. If you're working directly with an agent who's beholden to a single insurance company, you may be missing out on better, more protective alternatives from other insurers. An independent personal insurance manager can pick and choose policies from multiple carriers to ensure coverage customized to each individual situation.

You have worked hard to acquire your assets, now let us work hard to protect them. Choosing the right policies and individualized coverages to insure your property will help guard your wealth against unexpected losses or devaluations due theft, accidents, and more.

At Cravens Warren, we are passionate about our client relationships and growing them through sound financial guidance. Thank you for reading my newsletter and look forward to connecting with you soon!