Insurance & Risk Management
Ryan Kittredge of ClearPath Financial Partners welcomed Andrew Zawada of Zawada Insurance Agency for an in-depth discussion about the role of risk management particularly property and casualty insurance in a smart financial plan.
Andrew explained the importance of working with an independent insurance agency, which can shop policies among multiple carriers and advocate for clients when needs change. He also emphasized that the insurance landscape has shifted significantly post-COVID, especially in the auto market where rates have climbed and insurers have become more selective in policy underwriting.
One surprising trend: frequent switching can now negatively impact pricing. Loyalty matters more than it used to.
“It’s always the best time to ask those questions before the claim,” Andrew said. “Because once that claim happens, it’s going to be a problem.”
The conversation focused heavily on coverage strategy:
- Opting for higher deductibles may help keep premiums lower
- The savings can support higher liability limits essential as assets grow
- State minimum coverage often isn’t enough to protect financial well-being
Even a relatively small accident that requires an ambulance and hospital visit can quickly exceed minimum policy limits, putting future earnings and assets at risk.
Both Ryan and Andrew urged listeners to review their policies proactively, ensuring that insurance decisions support long-term financial stability.