Ep 79: Protecting Your Net Worth with Insurance

by Michelle Smalenberger, CFP® / October 27, 2026

Risks are always evolving, which means your insurance needs do too. This is our third insurance update with Ryan Delp from Bradish. In this episode, we discuss the insurance coverage people need to keep protecting their net worth from nuclear verdicts, underinsured drivers, long term care, and more!

Take a listen right here, or watch the video on YouTube!

Takeaways

  • Review your insurance coverage every three to five years. Also review it whenever life changes, like a new roof, an addition, or a teen driver. This allows you to keep protecting your net worth. Don’t wait for a claim to read your policy.
  • Tell your agent about home updates. A new roof can lower your premium, and carriers now often ask for the invoice. Roofs over 20 years old can raise your rate.
  • Think twice before filing small claims. Staying claim-free earns better pricing. Several claims in a few years can make you hard to insure.
  • Raise your property deductibles if you can afford it. A higher deductible lowers your premium. Also watch for new separate wind and hail deductibles.
  • Don’t cut corners on liability. Lawsuits and large verdicts are rising, but raising your limits usually costs little. An umbrella policy adds a second line of defense for your net worth against lawsuits.
  • Carry more than state-minimum auto coverage. Add uninsured/underinsured motorist coverage, which you can also extend to your umbrella. It protects you when the other driver has little or no insurance.
  • Shop around when you add a young driver. It’s often the biggest auto price jump. Higher collision deductibles help, and you can skip collision on a cheap old car.
  • Insure your home even if you buy with cash. No lender will require it, but one claim like water damage can be very costly.
  • Buy life insurance early. Premiums depend on age and health, and it’s hard or expensive to start in retirement. Ask for a living-benefits rider so you can draw on it for a terminal illness.
  • Plan for long-term care in your 50s. It’s very hard to self-insure and costly to start later. Hybrid life insurance policies with a long-term care rider are a growing option. This cost will eat into your hard earned retirement savings faster than anything.
  • Check coverage when you travel. Your auto policy usually covers rental cars but not those abroad, so buy rental coverage overseas. Your homeowner policy may extend liability to places like an Airbnb.
  • Don’t be passive with your insurance. Check in with your agent, ask what you’re paying for, and call before big decisions. It’s often a two-minute conversation.

Related Links for Protecting Your Net Worth

Our guest today was Ryan Delp, the Vice President at Bradish Associates.

Listen to our past interviews with Ryan to hear how much has changed!

Additional FDS Resources on Insurance:

Episode 79 Timestamps:

  • 1:09 Meet Ryan!
  • 3:15 What are you seeing change in the insurance industry?
  • 6:14 How is AI impacting you?
  • 9:07 How are acquisitions impacting you?
  • 13:10 What is driving pricing changes recently?
  • 19:20 Is there an advantage to not filing a claim?
  • 22:01 Where are people cheaping out on insurance?
  • 27:25 How often should you review your coverage needs?
  • 31:34 When you retire, do your insurance needs change?
  • 35:24 Do retirees need life insurance?
  • 37:48 When should retirees get long term care insurance?
  • 45:13 What changes could you see coming for insurance?
  • 47:55 Should you buy travel insurance?

Credits for Episode 79

Host: Michelle Smalenberger, CFP®

Guest: Ryan Delp

Executive Producer: Anna Lewis

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Financial Design Studio and Bradish Associates discuss how to protect net worth with insurance

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Michelle Smalenberger, CFP®

I have a passion for helping others develop a path to financial success! Through different lenses on your financial picture, I want to help create solutions with you that are thoughtful of today and the future. I have seen in my life the power of having a financial plan while making slight changes of direction from time to time. I believe you can experience freedom from anxiety and even excitement when you know your finances are on track.