Many homeowners who are renovating their homes, or building a new one, make the expensive mistake of not securing additional coverage during the construction phase.

A fire may destroy your materials and equipment, or thieves clean you out in the dead of night. When you call your homeowner's insurer, you find out it doesn't cover your home when it's under construction. If you are embarking on a home construction project, don't start until you secure vital extra coverage if you want to avoid the same fate.

If you are accumulating wealth quickly and live the comfortable life with a large house, luxury car and other expensive assets, you've no doubt already insured all of those belongings.

But while most high-net-worth individuals have their possessions properly covered, they often overlook their largest risk: liability. In fact, many will often over-insure against minor threats and underinsure for major ones. Here's to avoid that trap.

Fourth of July is one of America's favorite holidays and it's a time to enjoy Independence Day with your family and friends.

Unfortunately, every year more than 11,000 people are sent to the emergency room for fireworks-related injuries and in a typical year about eight to 10 people are killed by fireworks.

But you can take steps to protect your family and your property so that you don't have to be one of those statistics. It all comes down to common sense and respecting the power of the fireworks.