Decoding Retirement The missing piece in your retirement puzzle: Homeowner's insurance
Sep 2, 2025
In this engaging discussion, Meaghan Dowd, Director of Insurance at Holistiplan and author of "Protect Your Lifestyle," dives into crucial homeowner's insurance insights for retirees. She highlights common insurance pitfalls that can derail retirement plans, like confusing replacement-cost versus actual cash value. Meaghan also emphasizes strategies for protecting assets, including using trusts and LLCs, and identifies overlooked risks like lifestyle liability. Her practical tips ensure listeners don't overlook the importance of insurance in their retirement planning.
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Teen Driving Nearly Costs Family Coverage
- Meaghan Dowd recounted backing into cars as a teen which nearly caused her parents' policy to be non-renewed.
- That experience taught her not all insurance markets or coverages are equal and frequency of claims matters.
Vacation Pipe Burst Destroyed Retirement Nest Egg
- A client's unattended pipe burst during vacation and ran for five days, damaging finishes and systems.
- They faced about $400,000 out-of-pocket because personal property lacked replacement-cost coverage.
Buy Replacement Cost For Personal Property
- Do check whether your personal property is covered on replacement cost rather than actual cash value.
- Replacement cost pays to buy today’s equivalent items instead of depreciated payouts.
