Holistiplan's Insurance Risk Management tool allows you to review property & casualty (P&C) policies for your clients. What types of policies aren't covered? Find out more below.
Holistiplan is excited to see users wanting more from our Insurance Risk Management tool that currently supports homeowners, automobile, and umbrella policies. This tool is designed to help you review and analyze your clients' insurance policies. While this tool expands your ability to provide more comprehensive financial planning insights, there are some important details to note about what policies are and are not supported.
Currently, Holistiplan supports homeowners, automobile, and umbrella insurance policies. You can upload the declarations pages from those policy documents for analysis and review. If you want to know exactly what information we need, check out our article here on what forms you can upload. However, the insurance policy types below are not currently supported.
Insurance Products Not Supported
- Landlord Insurance
- Watercraft Insurance (e.g., boat or yacht insurance)
- Motorcycle Insurance
- Toys Insurance (e.g., RV's, ATVs, drones, electric scooters, golf carts)
- Standalone Valuables Coverage (e.g., jewelry, fine art)
- Flood Insurance
- Earthquake Insurance
- Commercial Coverage (e.g., business property or liability insurance)
Why These Products Aren't Supported (Yet)
While some of these insurance types, such as landlord coverage, could appear similar to homeowners insurance, there are significant differences in policy forms, coverages, and endorsements. These nuances require specialized insights that we plan to address as we expand our support of these policy types. For example, landlord insurance often includes different liability coverages, rental income protection, and various state-specific requirements that would need tailored attention.
For now, these products are outside the scope of our Insurance Risk Management tool, but we are actively working to enhance our platform to include them in the future.
What's on the Roadmap?
We continually assess the frequency of unsupported documents that we see, and our goal is to update and expand the insurance products we support. We're thrilled to share that roadmap with you below outlining what's on deck.
- Landlord Insurance: We are targeting a 2025 release for landlord insurance support. This will allow you to review rental property coverage, tenant liability protections, and income loss scenarios, providing valuable insights for clients with rental properties.
- Watercraft & Motorcycle Insurance: Expanding our P&C feature to include these types of coverage is also on the horizon. These policies often have specialized needs around liability and damage coverage that we plan to address in the coming years.
- Toys & Valuables Insurance: We're also looking to add coverage for personal items like RVs ATVs, drones, electric scooters, and standalone valuables (e.g., jewelry, fine art) to better support clients with unique personal assets.
- Flood & Earthquake Insurance: Given the regional nature of these policies and the specific risks they cover, we're planning to add them once we’ve ensured accurate risk modeling and coverage integration.
- Commercial Coverage: While business-related insurance isn't currently in scope, we’re considering how to expand Holistiplan to support small business owners with comprehensive insurance needs.
Why Is This Important?
By continuously expanding the scope of supported insurance products, Holistiplan aims to give financial planners the tools they need to provide holistic advice to clients. Insurance plays a critical role in a client’s overall financial plan, and having a clear picture of their coverage helps in areas like risk management, asset protection, and long-term financial stability.
We’re committed to making Holistiplan the most comprehensive financial planning tool available, and we’ll continue to prioritize updates that empower you to offer better, more informed guidance to your clients. Stay tuned for more updates and feature releases!
If you have any questions, please Contact our Support Team for more assistance!