Are you thinking about filing a claim with your insurance company? I wouldn’t bother wasting my time if I were you. Insurance is a total racket, and in my humble opinion, theses are basically criminal businesses.
Their business model is simple. They collect premiums from you, and then deny your claim and drop your coverage when you actually need it.
They focus more on protecting their interest than they do yours, and that’s the sad truth. They won’t protect your assets. I repeat: your insurance company won’t protect your assets. You’ll be lucky if they accept your claim.
Your Insurance Company Won’t Protect Your Assets
While everything’s fine, your insurance company will take your money. Yet as soon as something happens and you decide to file a claim, you get dropped. The reality of the situation is, if you have a big claim you’ll end up having to sue your insurance company just to get them to pay out.
As an investor you shouldn’t rely on filing a claim with your insurance company to protect your assets. Sure, they’re possibly going to cover the $5,000 slip and fall case that happened on your icy front porch.
But what they won’t cover is where the real story is here. Here’s an example of a claim that only an asset protection plan will help. Imagine telling your insurance company that grandma fell through the staircase, broke her hip, and now will be permanently disabled for the rest of her life. You’d almost certainly be unceremoniously dropped.
Don’t expect their empathy, either. Instead, they’re going to say it was your fault grandma fell through the staircase because you should’ve known there was something wrong. They’ll say your claim is a case of “gross negligence“, which is your fault and thus outside of your policy limits.
Your insurance company knows they can do this. The fact is, they have millions of dollars to spend on their legal team, whereas most investors only have a few thousand dollars to spend on ONE attorney.
Protect Your Assets By Being Proactive
Instead of relying on your insurance company to protect your assets, be proactive. You worked hard to get to where you are now, don’t lose what you’ve built.
What you need to do is protect your assets with a proper asset protection strategy, incorporating anonymous trusts and LLCs / Series LLCs to keep people from coming after your money. These legal structures will stop lawsuits before they happen.
Asset protection involves making your ownership anonymous, as well as legally limiting your liability. People won’t sue you if they think you have nothing worth taking. They certainly won’t be able to sue you if they don’t know what you own. Doesn’t that sound a lot better than filing a claim? Learn more about basic asset protection strategy from the many articles here on the Royal Legal Solutions website.
If you have any questions, just comment below and I’ll answer them as soon as I can. If you’re not willing to risk everything you’ve earned on the futile hope that insurance will protect you, schedule your asset protection consultation today.