Asset management is just what it sounds like: the management of your assets. It’s important to know how much certain assets, like houses and jewelry, are worth in order to get them properly insured. Insurance provides you with coverage in case of events like fire, flood, robbery, or potential liability, such as being sued after a car accident. While your homeowners policy does offer some coverages, it might not offer the enough coverages that you need. It’s worth looking into extending those coverages with inland marine or umbrella policies to make sure your assets are properly insured.