Most people don’t realize they’re underinsured, until it’s too late.
In this episode, Rich sits down with insurance expert Ed Gajdosik to talk about the real cost of being underinsured, why flood insurance isn’t just for flood zones, and how umbrella policies protect your wealth when disaster strikes. They unpack what most people get wrong about auto and homeowners insurance, how inflation affects your coverage, and why a quick review of your policy might be the smartest financial move you make this year.
In this episode:
- Why your home’s appreciation might leave you underinsured
- What inflation guard is and what it really covers
- How flood insurance works, even outside flood zones
- The truth about liability limits and personal risk
- Umbrella policies: what they cover and why they matter
- Whether you should add your teen driver to your policy, or not
Chapter Markers
02:07 Importance of Regular Insurance Reviews
03:33 Understanding Home Insurance Coverage
06:25 Flood Insurance: Not Just for Flood Zones
08:36 Navigating Auto Insurance for New Drivers
11:09 The Role of Liability and Uninsured Motorist Coverage
15:31 Understanding Umbrella Policies
16:17 Real-Life Example: The Importance of Umbrella Policies
17:49 Litigious Society and Rising Costs
19:16 The Importance of Regular Insurance Reviews
23:38 Telematics and Future Trends in Auto Insurance
27:26 Factors Affecting Insurance Rates
Want To Know More About Our Guest?
Ed Gajdosik has 30+ years of financial services experience, 10 years as insurance agency owner of GC Insurance Group, providing auto, home, condo, co-op, and life insurance, and four time Honor Ring Award Recipient.
- Insurance Licenses in both New York and Connecticut
Contact:
Ed Gajdosik
Phone: (914) 834-6262
gajdosik1@allstate.com
website: https://agents.allstate.com/edward-gajdosik-larchmont-ny.html
Facebook | Instagram | LinkedIn
Filmed and recorded at Studio on the Avenue/LMC Media
Mamaroneck, NY
https://lmcmedia.org/
Produced and Edited by Vekterly
https://www.vekterly.com/
Disclaimer: This podcast is for informational and educational purposes only and should not be considered as financial advice, a recommendation for any specific investment, strategy, or financial decision, or legal advice. By engaging with this material, you acknowledge and agree with its intended purpose. Any examples provided are hypothetical and for illustration purposes only. Neither Rich Leimgruber, the EnRich Your Life Podcast, nor its representatives are advising or suggesting any specific action or decision. Before making any financial, legal, or tax decisions, individuals should consult their own financial advisor, accountant, legal professional, or other qualified professional before making financial decisions. All opinions expressed are those of the host and guests and do not reflect the views of any affiliated financial institutions. The views shared may not be suitable for every individual or situation. Past performance is not indicative of future results, and all investments carry risk. Please note that any strategies discussed may not be suitable for all investors, and the appropriateness of any specific investment or strategy will depend on individual circumstances.
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