Why are other liability insurance policies (like home and auto) NOT included with Insurance Rate (Ir)?

Abby Morton
Abby Morton

Elements only considers umbrella and business liability in the Insurance Rate (Ir) calculation. This is not because P&C insurance is not important, instead we choose to include high-level summaries of the most impactful insurance risks - death, disability, or getting sued. 

There is also an assumption that if a client has umbrella insurance they likely have a sufficient (in most cases) underlying insurance for most P&C policies.

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