Asset Protection/Insurance Tips
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February is Asset Protection/Insurance [1] month on AccountingWEB. Each weekday we will provide you with more practical tips that you can use to protect your investments. We welcome fresh ideas, so please let us know [2] if you have a favorite tip to share!
1
Consider holding assets in separate companies. For example, if you own several pieces of rental property, hold each property in a separate corporation so that a liability incurred on one property won't put the other properties at risk. - AccountingWEB Staff
2
Before purchasing any type of insurance, compare coverage and policies. Make a checklist of all items under comparison, then choose an insurance agent who can get you the best deal on the coverage you want. - AccountingWEB Staff
3
Purchase different types of insurance from the same company to get better rates for repeat customers. - AccountingWEB Staff