Just like with any other kind of policies, umbrella coverage can have some things it won’t cover depending on the policy (such as punitive damages or business endeavor claims). An insurance expert can help you go over the policies to find the coverage that’s right for you.
Have you worked hard and built up a comfortable savings account, investment portfolio, and emergency fund? If you don’t have an umbrella insurance policy for personal liability, you could be a single accident away from bankruptcy. Accidents with serious injuries can lead to exorbitant legal judgments. If your insurance is exhausted, you’re on the hook personally for the rest of the judgment.
Did you know that an umbrella policy tends to be a cheaper option than increasing the limits on your auto and homeowners policies? Plus, you get the added benefits of an umbrella policy, such as personal injury coverage.
In most cases, the amount of coverage for a personal umbrella policy ranges from $1 million to $10 million and covers broad forms of liability insurance.
The usual umbrella coverage policy is for $1 million, but that’s not enough for everyone. For example, if you make more than $100,000 a year or have more than $1 million in assets (including your house and retirement fund), you should have a higher policy.
If you enjoy recreational activities – like boating, traveling in your own RV or even skiing – it is a good idea to carry extra liability umbrella insurance. In the event of an accident, this type of insurance can protect you against a lawsuit.
A lot of the time, umbrella coverage can be bundled with your current auto insurance and home insurance provider. This will make it easy to use in case you need it. An insurance expert will help you go over options so your insurance all works together well.
What are the requirements to qualify for an umbrella insurance policy? While the rules can vary from company to company, most insurance companies require that an individual have a certain level of homeowner’s or auto liability coverage – often at $500,000 – in order to be considered for an umbrella policy that adds more liability coverage.
So how much exactly does an umbrella insurance policy protect you beyond your original insurance coverage? Depending on the policy, it can add an additional one to five million dollars in liability protection.
What’s the difference between libel and slander? Both are types of defamation, which is damage to a person’s reputation. With libel, the damage is written and published while slander is defamation that is spoken. Many homeowner’s policies exclude coverage for lawsuits or judgments as the result of libel or slander.
Insurance experts say that homeowners with a trampoline should consider an umbrella policy. Serious accidents are possible that could lead to expensive legal judgments or settlements. Unfortunately, being careful is not enough to stop an accident.
A common myth about umbrella insurance is that it carries a hefty price tag – but actually umbrella insurance is some of the most affordable liability insurance you can get, with an average cost of only a few hundred dollars a year.
Did you know that you can obtain short term umbrella insurance which will cover you for a year or less? Extra liability umbrella insurance coverage can provide additional security and peace of mind for as long or as little as you may need.
An umbrella policy is a separate insurance policy that most commonly extends the liability coverage for auto or homeowners insurance. The policy doesn't kick in until all other insurance policies have been paid out.
Whether you are moving or going on a road-trip, an affordable traveler’s umbrella policy can help to protect you in the event of an accident. This type of extra liability insurance can also be customized for short or long term policies.
Did you know that umbrella insurance policies cover certain incidents not covered by many homeowners’ policies? This would include, for instance, damage caused by your dog.
When you have a real estate portfolio, you face increasingly greater chances of someone being injured on your properties – even if they are there uninvited. Umbrella liability insurance covers you should someone be hurt on your land and your standard policy is not sufficient to handle the costs.
While umbrella policies cover you in case of personal injury or property damage, that’s not all. Some umbrella policies will also cover you in case of events like false arrest, false imprisonment, defamation, invasion of privacy, malicious prosecution, eviction, wrongful entry, and more.
Personal umbrella policies are gaining popularity. While in the past they were reserved for the well-to-do, nowadays pretty much anyone can benefit from being covered, just in case.
When deciding whether umbrella insurance is right for you, some things to keep in mind are whether you own a home, whether you own any significant assets, and whether you have built an investment portfolio or retirement savings account.
Auto insurance policies have deductibles for collision and comprehensive coverage. The deductible is an amount the policyholder pays out of pocket up front. By raising the deductibles on your policy, you lower the cost of your policy.
Umbrella insurance policies are designed to supplement the liability coverage you already have, whether it’s home or auto. Essentially, once you exhaust your original coverage, your umbrella coverage kicks in.
Estimados clientes, se les informa que nuestras oficinas estaran cerradas Jueves 26 de Noviembre por el dia de Accion de Gracias. Re-abriremos el dia Viernes en horario normal.
Dear customers, our offices will be close Thursday November 26. We'll re open Friday on regular business hours. Have a happy and safe Thanksgiving day!
Did you know that an umbrella policy can be extremely beneficial if you own rental units such as apartments? For example, if someone trips over a crack on your rental property and sues you, the umbrella policy would cover any defense costs in court.
Did you know that an umbrella policy covers many different situations? These include bodily injuries, property damage, certain lawsuits, and rental unit protection.
If you are concerned about the risk from accidents on your property, damage caused by a pet and slander, libel and defamation lawsuits, umbrella insurance offers valuable protection.
Do you host a lot of parties for your kids? While these can be great fun, they can lead to accidents, which can, in turn, lead to you getting sued by angry parents. Umbrella policies are there just in case of accidents, so you can focus on the fun instead of worrying about lawsuits.
If you head up a municipal sports league, you know that carrying liability insurance is important. However, are the limits of the policy enough to cover all your expenses if something drastic happens? An umbrella liability policy will extend the coverage your league has so that no one takes a financial hit.
Frequent car renters may find adding an umbrella liability policy to their regular insurance a more cost-effective approach than paying for the rental agency’s insurance, which averages more than ten dollars a day.
Did you know that the laws for umbrella policies vary from state to state? To determine the extent of coverage for your state, it is a good idea to consult with an insurance professional.
What would you do if your spouse or teenager caused an auto accident that had serious injuries? Once the limits of your homeowner’s policy are exhausted, you are personally liable for the remainder of a verdict or settlement, which could even include garnishing your wages.
It’s important to note that it’s usually necessary for policyholders to have their car and home insurance together in order to qualify for umbrella coverage. This ends up being a benefit, however, as in most cases you will qualify for a discount this way.
Both homeowners and small business owners are required to keep their property safe, and failure to do so can result in serious legal issues. But what about things beyond your control like the weather? Unfortunately, that does not matter. An umbrella liability policy will protect you against lawsuits that exceed the coverage of your underlying insurance policies.
What happens if someone on your property is hit by a tree branch or slips and falls? Is the liability coverage in your homeowner’s policy enough to cover a serious accident and the lawsuit that could follow? With an umbrella policy, you can add to the liability coverage in both your home and auto policies.
Did you know that umbrella insurance is an affordable type of extra liability insurance which can protect self employed people who run businesses out of their homes? This type of insurance is especially useful to business like home daycare, catering or repair businesses.
Do you have enough liability insurance within your current policies to cover your costs in case an accident occurs and you are found negligent? Umbrella insurance gives you extra protection on top of your already existing policies in the event of a lawsuit.
There are two basic steps involved in determining whether or not you need umbrella insurance. It’s recommended that you first add up your assets (the worth of your home, bank accounts, stocks, and other assets) and then see how much liability coverage you have on your homeowners and auto policies.
What does my net worth have to do with umbrella insurance? This type of insurance can provide additional coverage beyond the normal limits of auto and homeowner’s policies. Understanding your net worth means you are aware of what is truly at risk in the event of a large lawsuit.
Even if you don't have significant assets, your lifestyle could dictate the need for an umbrella policy. Do you publish a blog? What if someone sued you for libel or slander and won a huge judgment as a result of something that was published?
Depending on your particular insurance situation, with an umbrella insurance policy you can add an additional 1 to 5 million in liability protection. This is designed to kick in when the liability on other current policies has reached its limit.
Did you know that it is necessary to review your umbrella policy annually? This way, you can keep it up to date and make sure you are getting the best coverage possible.
Even if you have a homeowner’s policy or an auto policy, there are some things these policies won’t cover. When you have an umbrella policy, you’re more completely covered, so you don’t have to worry about coverage gaps if something goes wrong.
One of the most common myths about umbrella insurance coverage is that it is only needed for those who earn high incomes – but umbrella insurance is actually an affordable type of insurance which can come in handy no matter how much you make.
Ever wonder why umbrella insurance policies are so affordable? This is because they are designed to kick in only after you have exhausted your liability coverage under your auto or homeowners policy, which results in lower monthly premiums.
As your financial circumstances improve, you need to protect your assets from attack in the event you are sued. An umbrella policy is designed to pick up where your homeowner’s policy leaves off to keep you protected.
Insurers that provide umbrella policies generally offer discounts for policyholders who have other insurance coverage with the company. You may save money if you check with your auto, homeowner's or life insurance company for umbrella coverage.
Did you know that umbrella insurance policies are considered by many to be the best buy in the insurance business? If you are concerned about losing income or assets if a large lawsuit were to occur, umbrella insurance is a good option.
For insurance purposes, the most reliable appraisers are those who carry Certified Insurance Appraiser credentials. If you do not know where to locate one, your agent may be able to provide you with a list of those in the area.
Renters insurance provides financial reimbursement to cover a tenant's lost or damaged possessions as a result of fire, theft or vandalism. It also covers a tenant's liability in the event that a visitor is injured on the premises.
El seguro para inquilinos proporciona un reembolso financiero para cubrir las pertenencias perdidas o dañadas de un inquilino como resultado de un incendio, robo o vandalismo. También cubre la responsabilidad del inquilino en caso de que un visitante se lesione en las instalaciones.
Personal liability umbrella insurance is designed to give a home or vehicle owner added liability protection without a large added cost. In addition, it will cover non-business related activities around the world.
Did you know that 25 percent of drivers think that the color of their car affects their insurance rates? The remaining 75 percent have it right: the color of a car has no bearing on insurance premiums.
Regardless of well-structured your finances may be, some debilitating illnesses or conditions may strike suddenly, preventing your from accessing funds you need. Long-term care insurance covers needed expenses until (and after) you are in better position to handle your affairs.
A certificate of insurance is written evidence showing that an insurance policy or policies have been issued. The certificate indicates both the amounts and types of insurance provided, but does not obligate the insurer to the person to whom the certificate was issued.
Did you know that 25 percent of drivers think that the color of their car affects their insurance rates? The remaining 75 percent have it right: the color of a car has no bearing on insurance premiums.
Group health insurance is more than a nice perk or benefit to offer - it also protects your best asset and biggest investment – your employees. Let us show you the different options available.
If you have a condominium, you need insurance designed for that. Policies crafted for condo or co-op owners cover property damage and liability, but not the building, since it will be covered by the condominium association’s policy.
Regardless of well-structured your finances may be, some debilitating illnesses or conditions may strike suddenly, preventing your from accessing funds you need. Long-term care insurance covers needed expenses until (and after) you are in better position to handle your affairs.
A certificate of insurance is written evidence showing that an insurance policy or policies have been issued. The certificate indicates both the amounts and types of insurance provided, but does not obligate the insurer to the person to whom the certificate was issued.
Did you know that 25 percent of drivers think that the color of their car affects their insurance rates? The remaining 75 percent have it right: the color of a car has no bearing on insurance premiums.
In order to be competitive in the marketplace, you need to be able to attract and keep the best employee candidates available. Offering group health insurance is considered a best business practice.
Group health insurance is more than a nice perk or benefit to offer - it also protects your best asset and biggest investment – your employees. Let us show you the different options available.
If you have a condominium, you need insurance designed for that. Policies crafted for condo or co-op owners cover property damage and liability, but not the building, since it will be covered by the condominium association’s policy.
Regardless of well-structured your finances may be, some debilitating illnesses or conditions may strike suddenly, preventing your from accessing funds you need. Long-term care insurance covers needed expenses until (and after) you are in better position to handle your affairs.
A certificate of insurance is written evidence showing that an insurance policy or policies have been issued. The certificate indicates both the amounts and types of insurance provided, but does not obligate the insurer to the person to whom the certificate was issued.
You have worked hard to create your financial portfolio and to have the comfortable lifestyle you do. But the more you have, the greater the chances are that someone will try to sue you to take a share of that. An umbrella liability will provide the security to protect what you have created.
Because of the amount of equipment and number of accessories on a recreational vehicle, typical automobile insurance may not cover everything. Recreational vehicle policies can be tailored to cover as much or as little as you want so that you have the level of protection you prefer.
In order to be competitive in the marketplace, you need to be able to attract and keep the best employee candidates available. Offering group health insurance is considered a best business practice.
Group health insurance is more than a nice perk or benefit to offer - it also protects your best asset and biggest investment – your employees. Let us show you the different options available.
If you have a condominium, you need insurance designed for that. Policies crafted for condo or co-op owners cover property damage and liability, but not the building, since it will be covered by the condominium association’s policy.
Regardless of well-structured your finances may be, some debilitating illnesses or conditions may strike suddenly, preventing your from accessing funds you need. Long-term care insurance covers needed expenses until (and after) you are in better position to handle your affairs.
Are you worried that your customized or classic motorcycle can’t be insured. Relax, it’s fine. In fact, almost 100 percent of all makes, models and years can be insured - even if you built it from a kit.
Don't base the amount of homeowners insurance on your property tax. Property taxes include the value of the land, and you do not need an insurance policy for that since it is not considered something that can be damaged.
You have worked hard to create your financial portfolio and to have the comfortable lifestyle you do. But the more you have, the greater the chances are that someone will try to sue you to take a share of that. An umbrella liability will provide the security to protect what you have created.
Because of the amount of equipment and number of accessories on a recreational vehicle, typical automobile insurance may not cover everything. Recreational vehicle policies can be tailored to cover as much or as little as you want so that you have the level of protection you prefer.
In order to be competitive in the marketplace, you need to be able to attract and keep the best employee candidates available. Offering group health insurance is considered a best business practice.
Group health insurance is more than a nice perk or benefit to offer - it also protects your best asset and biggest investment – your employees. Let us show you the different options available.
