Personal Insurance
Call Us: 603-766-3733
A single lawsuit, one house fire, or a totaled car can undo years of financial progress in a matter of weeks. For families with significant assets, the stakes are even higher: a standard policy with default limits might cover a fraction of what you actually stand to lose. This guide to personal insurance covers every major line of coverage, from your home and vehicles to boats, RVs, and the umbrella policy that ties it all together. The goal here isn't to sell you on more insurance. It's to help you understand what each policy actually does, where the gaps hide, and how to build a portfolio of protection that matches your real life, not some generic checklist. Premiums across the personal insurance industry are climbing, with
overall growth forecast around 3-4% in 2026, and certain lines rising much faster. Knowing what you're paying for, and why, has never mattered more.
Foundations of Personal Insurance and Risk Management
Defining Personal Lines of Coverage
Personal lines of insurance refers to any policy designed to protect individuals and families rather than businesses. The major categories include homeowners, auto, umbrella liability, watercraft, recreational vehicles, and specialty items like jewelry or fine art. Each policy addresses a different slice of risk, and they're designed to work together.
Think of personal lines as a puzzle. Your homeowners policy covers property damage and some liability at your residence. Your auto policy handles vehicles. Your umbrella policy extends liability limits across all of them. Miss one piece, and you've got an exposed flank that a claim or lawsuit will find.
The Importance of Asset Protection
If your net worth is $2 million and your auto liability maxes out at $300,000, you're carrying $1.7 million in personal exposure every time you pull out of the driveway. That's not a hypothetical: it's the math that keeps estate attorneys busy.
Asset protection isn't about fear. It's about matching your coverage to your actual financial picture. Families with homes valued over $1.5 million, investment accounts, rental properties, or business interests need a consultative approach that identifies vulnerabilities specific to their situation. A cookie-cutter policy from an online quote engine won't cut it. Agencies like Avery Insurance Agency, which has spent over 125 years building custom solutions for clients, exist precisely because one-size-fits-all coverage leaves high-net-worth families exposed.
By: Tod O’Dowd, CIC, CAPI
President of Avery Insurance Agency
Protecting Your Primary Assets: Home and Property Insurance
Standard Homeowners Policy Components (HO-3)
The HO-3 is the most common homeowners policy in the United States, and it covers your dwelling, other structures (detached garages, fences), personal property, loss of use, and personal liability. The dwelling portion is "open peril," meaning it covers everything unless specifically excluded. Personal property, on the other hand, is "named peril," covering only the risks listed in the policy.
Here's where people get tripped up: the HO-3 excludes flood, earthquake, sewer backup, and certain water damage by default. If your home sits in a coastal area or near a floodplain, those exclusions matter enormously. And with homeowners insurance expected to increase 15% to 20% this year, especially in catastrophe-prone zones, understanding exactly what your premium buys is critical.
Specialized Property: Renters, Condo, and Flood Coverage
Renters insurance (HO-4) covers your belongings and liability but not the building itself. Condo insurance (HO-6) covers the interior of your unit, your personal property, and liability, while the condo association's master policy handles the building's exterior and common areas.
Flood insurance deserves its own conversation. Standard homeowners policies don't cover flood damage, period. The National Flood Insurance Program (NFIP) provides coverage up to $250,000 for a dwelling, but for high-value homes, that cap is woefully inadequate. Private flood markets now offer excess flood policies that push limits much higher. If you own waterfront property or live in a flood zone, this isn't optional.
Liability vs. Full Coverage: Understanding the Difference
Every state mandates some level of auto liability insurance, but state minimums are dangerously low. Texas requires just $30,000 per person in bodily injury liability. If you cause an accident that puts someone in the ICU for a month, that $30,000 disappears before the first surgery bill is paid.
"Full coverage" isn't an official insurance term, but it generally means liability plus collision and comprehensive. Collision pays for damage to your car in an accident. Comprehensive covers theft, hail, vandalism, and animal strikes. For families with newer vehicles or significant assets to protect, carrying high liability limits (250/500/250 or higher) plus collision and comprehensive is the baseline, not the ceiling.
| Coverage Type | What It Covers | Who Needs It |
|---|---|---|
| Liability Only | Damage/injury you cause to others | State minimum requirement |
| Collision | Your vehicle in an accident | Anyone with a car loan or newer vehicle |
| Comprehensive | Theft, weather, vandalism, animals | Same as collision |
| Uninsured Motorist | Injuries from uninsured drivers | Everyone, strongly recommended |
| Umbrella (excess) | Extends liability beyond auto limits | High-net-worth families |
Uninsured and Underinsured Motorist Protection
Roughly 14% of drivers on U.S. roads carry no insurance at all, and many more carry only their state's minimum. Uninsured motorist (UM) coverage pays your medical bills and lost wages when an at-fault driver has no insurance. Underinsured motorist (UIM) kicks in when the other driver's policy isn't enough to cover your damages.
This is one of the most undervalued coverages on any auto policy. With
auto insurance expected to increase 10% to 15% in 2026, some policyholders are tempted to cut UM/UIM to save money. That's a mistake. The cost is relatively small compared to the protection it provides, and it's one of the few coverages that directly protects you and your family, not just the other party.
Recreational Coverage: Boat, RV, and Powersports
Marine Insurance Essentials for Boat Owners
Your homeowners policy does not adequately cover your boat. Most HO-3 policies include a small sublimit for watercraft liability, often around $1,000 to $1,500 for physical damage. If you own anything larger than a kayak, you need a standalone marine or boat insurance policy.
Boat policies typically cover the hull, motor, trailer, and personal property on board. They also include watercraft liability, which is essential because boating accidents can involve serious injury claims. Agreed value policies are preferable to actual cash value: they pay the full insured amount in a total loss, without depreciation. If you're docking a $150,000 boat, depreciation on a total loss claim can cost you tens of thousands.
Off-Road and Specialized Vehicle Policies
RVs, ATVs, snowmobiles, and golf carts each come with unique risks that standard auto policies don't address. A Class A motorhome is essentially a rolling house, and it needs coverage for both the vehicle and its contents, including full-timer coverage if you live in it part-time or full-time.
Powersports vehicles like ATVs and side-by-sides are often used on private property or trails where standard auto liability doesn't apply. A dedicated powersports policy covers physical damage, liability, and sometimes medical payments for riders. If your family spends weekends on the lake or trails, these aren't luxury add-ons. They're the policies that keep a fun weekend from becoming a financial disaster.
Umbrella Insurance: The Ultimate Liability Safety Net
How Excess Liability Works with Underlying Policies
An umbrella policy sits on top of your homeowners and auto liability, activating once those underlying limits are exhausted. If you carry $500,000 in auto liability and face a $1.2 million judgment, a $2 million umbrella policy covers the remaining $700,000.
Umbrella policies also cover certain claims that underlying policies exclude, such as libel, slander, and false arrest. They're broad, they're powerful, and for families with significant assets, they're non-negotiable. The cost is surprisingly reasonable: a $1 million umbrella policy typically runs $200 to $400 per year, though rates are climbing. Umbrella insurance is expected to increase 14% to 18% due to rising litigation costs and capacity constraints.
Determining How Much Umbrella Coverage You Need
A common rule of thumb is to carry umbrella coverage equal to your net worth, but that's a starting point, not a formula. Consider your future earning potential, real estate holdings, investment accounts, and lifestyle factors. Do you have a pool? A teenage driver? Rental properties? Each of these increases your liability exposure.
Most carriers offer umbrella limits from $1 million to $10 million. At Avery Insurance Agency, the consultative approach involves reviewing your entire risk profile, not just checking a box. The right umbrella limit is the one that lets you sleep at night knowing a single event can't unravel your financial life.
The Benefits of Multi-Policy Bundling
Bundling your home, auto, and umbrella policies with a single carrier or agency typically saves 10% to 25% on total premiums. Beyond the discount, bundling simplifies your coverage: one agency manages your entire portfolio, coordinates limits between policies, and spots gaps that separate carriers might miss.
That said, bundling only makes sense if the carrier is competitive across all lines. A great homeowners rate paired with an overpriced auto policy isn't a real savings. An independent agency can compare multiple carriers simultaneously and build a package that actually works in your favor.
Annual Reviews and Adjusting Coverage Limits
Your insurance needs shift every year. A home renovation adds value that your dwelling limit might not reflect. A new driver in the household changes your auto risk. Paying off a mortgage might mean you want to adjust deductibles. Skipping annual reviews is one of the most common and costly mistakes families make.
Smart home technology can also lower your premiums:
discounts between 5% and 20% are available for homes with smart shut-off valves, monitored security, and smoke/CO detectors. These aren't gimmicks. Carriers reward risk reduction with real savings, and the technology often pays for itself within a year or two.
Frequently Asked Questions
Do I really need umbrella insurance if I already have high auto and home liability limits? Yes. A serious accident or lawsuit can exceed even generous underlying limits. Umbrella coverage is inexpensive relative to the protection it provides, especially for families with assets above $1 million.
What does homeowners insurance not cover? Floods, earthquakes, sewer backups, and normal wear and tear are typically excluded from standard HO-3 policies. Each requires a separate endorsement or standalone policy.
How much boat insurance do I need? Enough to cover the agreed value of your vessel, plus watercraft liability of at least $300,000. If you have an umbrella policy, your marine liability should meet the umbrella's underlying requirements.
Can I insure my RV under my auto policy? Some carriers allow it for towable RVs, but motorhomes and full-timers need dedicated RV policies that include contents, awnings, and personal liability specific to RV use.
How often should I review my personal insurance? At least once a year, or anytime you experience a major life change: buying property, adding a driver, renovating your home, or acquiring new recreational vehicles.
Making the Right Choice for Your Family
Personal insurance isn't a single product. It's a coordinated set of policies that, when built correctly, protects everything you've worked for. The families who fare best after a claim aren't the ones who bought the cheapest policy. They're the ones who took the time to understand their risks, match their coverage to their real lives, and review their portfolio regularly. If you're unsure whether your current coverage has gaps, reach out to Avery Insurance Agency for a consultative review. Custom solutions built around your unique risks, assets, and lifestyle are worth far more than a discount on a policy that won't perform when you need it most.
ABOUT THE AUTHOR:
Tod O’Dowd, CIC, CAPI
I'm the President of Avery Insurance Agency, a family-owned independent agency serving individuals and businesses across New England and in 40+ states. With a hands-on, consultative approach to personal and commercial risk, I help clients — from high-net-worth homeowners and contractors to restaurant owners and property managers — find the right coverage without the guesswork of working with a single-carrier agent.
What Our Clients Say
Trusted by Families and Businesses for Over a Century
Trusted by New Hampshire Families and Businesses for Over a Century
Your Life. Protected.
Complete Personal Insurance for Individuals Who Expect More
One Agency. Every Coverage You Need. No Gaps, No Surprises.
Home Insurance
Your home is your most valuable asset. Avery’s home insurance protects your property, belongings, and liability so you can feel secure no matter what happens.
High-Value Home Insurance
Own a home valued over $2 million? Our Premier Client Services program provides coverage built around high-value properties and the unique risks they carry.
Auto Insurance
Whether you drive a daily commuter, a classic car, or a motorcycle, Avery finds the right auto coverage for your vehicle and your budget.
Boat & Watercraft Insurance
From small boats on New Hampshire’s lakes to luxury yachts, Avery provides watercraft insurance covering your vessel, passengers, and liability on the water.
Umbrella / Personal Liability Insurance
An umbrella policy adds an extra layer of liability protection above your home and auto coverage. One of the most cost-effective ways to protect your financial future.
Valuable Possessions Insurance
Jewelry, art, collectibles, and other high-value items need coverage beyond a standard homeowners policy. Avery insures your most prized possessions at full appraised value.
Protect Your Business & Livelihood
Commercial Insurance Solutions Designed for New England Businesses.
Comprehensive Commercial Coverage That Keeps Your Business Running
General Liability Insurance
Protect your business from third-party claims of bodily injury, property damage, and personal injury. General liability is the foundation of any solid business insurance program.
Commercial Property Insurance
Covers your building, equipment, inventory, and other physical assets against fire, theft, vandalism, and other covered losses. Keep your business protected from the unexpected.
Workers’ Compensation Insurance
Workers’ comp covers medical costs and lost wages when an employee is injured on the job. Avery helps businesses meet state compliance requirements and manage costs effectively.
Cyber Liability Insurance
Data breaches and cyberattacks are a growing risk for businesses of all sizes. Cyber liability covers response costs, legal fees, and customer notification expenses after a security incident.
Employment Practices Liability Insurance
Covers your business against employee claims of wrongful termination, discrimination, harassment, and related issues. Essential for any business with employees.
Commercial Auto Insurance
Whether a single truck or a full fleet, commercial auto insurance protects your business against accidents, damage, and liability on the road.
We Know Your Industry
Tailored Insurance Programs for the Industries That Drive New Hampshire
We Understand the Risks Your Industry Faces — and How to Manage Them
Contractors Insurance
From general contractors to specialty trades, Avery understands the unique liability and property exposures your business faces on every job site in New England. We build coverage programs that keep your crew and company protected.
Restaurants & Hospitality
Restaurants, hotels, and marinas face distinct risks — from slip-and-fall liability to liquor liability and food spoilage. Avery designs coverage programs for the specific needs of the hospitality industry.
Real Estate & Property
Whether you own a portfolio of investment properties or manage a condo association, Avery provides the right mix of property, liability, and management coverage to protect your real estate investments.
We Make It Simple
Getting Covered with Avery Is Easy
Step 01
Connect with an Avery Advisor
Call, email, or request a coverage online and we will respond the same business day.
Step 02
We Build Your Coverage Plan
We shop top-rated carriers, compare your options, and recommend the best fit for your needs.
Step 03
You Get Protected and Stay Protected
We place your coverage, review it annually, and advocate for you if you ever need to file a claim.
Let’s Clear Things Up
Got Questions? We’ve Got Answers.
Straight Answers From the Advisors Who Know This State Best
What does it mean that Avery is an independent insurance agency?
An independent agency like Avery is not tied to any single insurance company. We represent multiple top-rated carriers, which means we can shop the market on your behalf and recommend the coverage that truly fits your needs — not the one that benefits any single insurer.
This independence gives you access to more options and unbiased advice. Our advisors are compensated to serve your interests, not to push a specific product. That is a significant advantage over captive agents who can only offer one carrier’s policies.
How much does it cost to work with an Avery advisor?
There is no direct cost to you for working with an Avery advisor. Independent agents are compensated through commissions paid by the insurance carriers when a policy is placed. You receive expert guidance, market comparisons, and ongoing service at no extra charge.
In fact, many clients find that working with Avery saves them money. Our advisors know how to identify the right coverage levels so you are not paying for protection you do not need, and you are not left exposed where you do.
Does Avery help with claims?
Yes — and this is one of the most important things that sets Avery apart. When you have a claim, our in-house claims advisors go to work for you. We guide you through the process, communicate with the insurance company, and advocate for a fair and timely outcome.
Several of our team members hold professional claims designations, including AIC and AINS. We do not just help you file paperwork — we actively represent your interests to make sure you receive the full benefit your policy provides.
Where in New Hampshire does Avery provide coverage?
Avery serves clients throughout the state of New Hampshire from our offices in Wolfeboro and Portsmouth. Whether you live in the Lakes Region, the Seacoast, the White Mountains, or the Merrimack Valley, an Avery advisor is ready to help you find the right coverage.
Our advisors understand the specific risks that come with living and doing business in New Hampshire — from harsh winter weather to seasonal watercraft exposure. We apply that local knowledge to every coverage recommendation we make.
How does Avery handle high-value homes and assets?
Avery offers a dedicated Premier Client Services program for clients with homes valued over .5 million, significant investment portfolios, fine art collections, jewelry, yachts, and other complex assets. This program pairs you with a specialist who understands the unique risks of high-net-worth households.
Through carriers that specialize in high-value personal lines, we provide guaranteed replacement cost coverage, agreed value policies, and comprehensive risk management strategies. Your advisor will conduct a detailed review of your full asset portfolio to make sure nothing is overlooked or underinsured.
How often should I review my insurance coverage?
Avery recommends a full coverage review at least once a year. Major life events — buying a home, starting a business, adding a vehicle, getting married, or making significant home improvements — are all good triggers for an immediate review outside your annual cycle.
Insurance needs change over time, and policies that were right for you a few years ago may leave gaps today. Avery advisors proactively reach out to clients for annual reviews and keep up with changes in the insurance market that could affect your coverage or premium. Our goal is to make sure you are always protected and never paying for coverage that no longer fits.
Insurance Tips & News
Stay Informed with the Avery Blog
Practical Insurance Advice for New Hampshire Families and Business Owners
Contact Us
Portsmouth (HQ)
7 Islington St #102, Portsmouth, NH 03801
Phone Number: 603.766.3733
Wolfeboro
21 S Main Street, Wolfeboro, NH 03894
Phone Number: 603.569.2515