The term "insurance portfolio" refers to a collection or group of insurance policies that an individual, family or business owns. These policies can include auto, home, health, life and other types of coverage, depending on the specific needs and risk exposure of the policyholder. The phrase "one's insurance portfolio" typically means the set of all insurance policies held by a single person or entity.
An individual may have different reasons for holding various insurance policies in their portfolio - to protect against financial loss due to unexpected events such as accidents, illnesses, natural disasters and more. The goal is usually to minimize risk and ensure that the policyholder has adequate coverage to meet their needs and provide peace of mind.
Managing an insurance portfolio involves reviewing policies regularly, assessing coverage levels, premiums, deductibles and other factors to determine if changes are needed or if additional policies should be added for greater protection. It's important to work with a trusted advisor who can help you make informed decisions about your insurance needs and ensure that your portfolio is well-balanced and meets your specific goals.