While it is always a good idea to find ways to maximize your financial strength, it is also a good idea to protect it. While you can cut costs with a higher insurance deductible, you do not want to be paying on the back end when coverage is exhausted. An umbrella liability policy will provide the money you need when your regular policy has reached its limits.
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.
Umbrella insurance makes a great addition to your insurance portfolio. It’s a great way to ensure that significant assets are covered for a relatively inexpensive price.
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.
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.
Did you know that umbrella insurance provides coverage for insurance claims that may be excluded by other liability policies? This includes everything from false arrest to libel, slander, and even liability coverage on rental units.
Changes in life can make umbrella coverage – or excess liability insurance – a good idea. If you start a home-based business, the $10,000 in medical coverage you might have on your homeowner’s policy may not be sufficient, particularly if your business attracts a steady stream of clients and visitors.
Even if you have extensive homeowner’s and automobile insurance, they have limitations and if you have not updated them, those limits may be less than you realize. An umbrella policy picks up when your regular insurance runs out, protecting your financial portfolio.
In this modern day world of on-line video and pervasive social media, you may be opening yourself up to slander or libel litigation. An umbrella insurance policy can provide much needed coverage in the event a lawsuit is filed against you.
It’s important to understand that umbrella insurance coverage is not just designed for the wealthy but can help in a wide range of lawsuits. If you own a home, auto, or recreational vehicle, then chances are that you are going to need an umbrella policy.
Commercial umbrella liability insurance policies will add an extra layer of financial protection for your business. This type of insurance will protect your business from financial costs which may arise if you or the business is ever sued.
Do you have a swimming pool at your home? Would your homeowner’s coverage pay for a big lawsuit if someone were to be injured or die in your pool? Umbrella policies can extend the policy limits by millions of dollars.
If you own a recreational vehicle, umbrella insurance coverage can help to protect you in the event of an accident. This type of insurance for RV owners is an especially good idea too for RV enthusiasts who take long trips.
You can be liable for injuries on your property even if they’re uninvited; for example, if neighborhood kids jump your fence while you’re out of town and hurt themselves in your pool. This kind of unexpected occurrence is the exact kind of thing umbrella policies protect against.
Looking for that extra space in your monthly budget for an umbrella policy? A good way to find this cash is by raising your homeowner or auto insurance deductible. While this might mean a few hundred more in case of a claim, your umbrella coverage could save you thousands.
Do you have a savings account for your child’s college education? Make sure that these savings are 100% secure with an extra liability umbrella insurance coverage policy which will protect you in the event of an accident.
In today’s world of lawsuits, courts are awarding larger amounts of money than ever for accidents, despite the fact that most policies have a limit on liability insurance. Thus, having umbrella coverage is important for everyone.
By investing in an umbrella insurance package, not only can you save money by combining various policies, but you can also be spared the time and effort needed to purchase and manage separate individual policies.
Did you know that, in most cases, umbrella insurance policies are really affordable? Additional liability insurance is often inexpensive, adding another layer of liability protection without a significant added cost.
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.
Who needs umbrella insurance? Someone with a valuable home, investments and personal property should consider umbrella insurance in order to protect those items.
You’ve worked hard to get all of the assets you have today, such as a house, car, or retirement fund, so why spend all of your time worrying about losing them? Umbrella policies will protect you in case something gets wrong so you can enjoy your hard-won rewards.
Did you know that average defense attorney costs for even small cases can easily run into tens of thousands of dollars? Umbrella insurance can cover these costs if legal action is ever brought against you or your business.
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.
Sadly, lawsuits are becoming more and more common in today’s society, which means a single accident can lead to a lengthy lawsuit process and a lot of damages. Fortunately, umbrella policies will protect you if you are sued after an accident.
There are many factors that make umbrella policies a smart choice. Do you have a maid or other people working for you in your home? A slip and fall accident could lead to a significant lawsuit.
If you are looking for a way to incorporate an umbrella policy into your budget, boosting the deductibles of your auto and homeowners’ insurance can reduce these premiums by hundreds of dollars.
The more active and involved your children are in the community, the better sense an umbrella insurance policy makes. What with carpools, friends of your children visiting, or kids just playing in the yard, the chance for injury is greatly increased. Protect yourself from damaging litigation with an extended liability policy.
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.
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.
Even middle-class homeowners are vulnerable to lawsuits these days and can benefit from the protection afforded by umbrella insurance. Throughout the course of everyday life, unexpected things can happen for which you may be found negligent.
When was the last time you conducted an inventory of the property in your home? Experts say it’s a good idea to have an inventory in writing, or on video, as a way to prove losses in the event of a fire or other homeowner’s claim. The inventory may also remind you of the number of valuable items in your home that may need to be protected by an umbrella policy.
Did you know that umbrella insurance policies provide insurance beyond traditional home and auto? They can also provide coverage for claims that may be excluded in primary policies, such as false arrest, libel, slander, and invasion of privacy.
Could I really lose my home and other personal property to someone that sued after a traffic accident? The law varies from state to state, but there are states that allow a successful plaintiff to force the sale of a house to recover any equity to apply to a legal judgment or settlement.
In an accident, you can’t control who you might injure, making umbrella insurance all the more important. If you injure, for example, the CEO of a large company, you will owe a great deal of money for lost wages.
An important issue to consider these days is how far your current insurance protection will really go to protect you. In today’s litigious society, a good umbrella policy will ensure that you have all the coverage you need.
So why might you need umbrella insurance? While you may have auto insurance coverage, that policy needs to cover damage to the car(s), any medical bills and lost wages, and perhaps even a legal defense representation. After adding this all up, often the original policy isn’t enough and you could benefit from the extension an umbrella policy affords.
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.
Not sure how you could afford the extra umbrella policy payment you need? You might be surprised, since adjusting the liability limits or deductible on your current policies might make a big difference. An insurance expert can go over your options with you to help you figure it out.
In the world we live in, lawsuits continue to be a reality and courts are awarding larger amounts of money than ever. Mainstream policies have a limit on how much liability insurance they are willing to pay out, which makes umbrella insurance a smart investment.
If you have company-wide celebrations – picnics, parties, and the like – and someone is injured, you may end up on the wrong end of a lawsuit. Protect yourself and your business from litigation with an umbrella liability policy.
If you are a small business owner, additional umbrella insurance – which is a type of liability insurance - can help to ensure that your business is safe in the event of accident or lawsuit costs exceeding the coverage of your regular insurance policy.
Umbrella insurance policies will cover the cost of damage or loss to another person’s tangible property. This might include costs associated with damage to vehicles and other property as a result of an auto accident and accidental damage to school property caused by your child.
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.
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.
Business auto insurance covers not only damage to the vehicles you use for your enterprise, but also any damage your drivers or the vehicles may cause. You do not want to put your company at risk because of an unfortunate situation.
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.
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.
Do you have a home-based business? Most municipalities have laws regarding the types of insurance you must carry. These are coverages that are not found in homeowners’ policies and are intended to protect the business and the public.
Did you know that half of all small businesses in the country are home-based? It’s important to consult your insurance expert if you start up a home-based business because of increased liability risks of customers visiting your home. An umbrella policy can protect you from lawsuits due to accidents or injuries – from a slip and fall to an ugly encounter with your dog.
Most umbrella policies are not expensive. In fact, insurance experts say $1 million in additional liability coverage will usually cost between $150 and $300. Add another million and expect to pay an additional $75 to $100.
Commercial vehicles used in business, especially large trucks, are not only more expensive than those for personal use, they also hold their value. You need a commercial policy that ensures you are not in a financial bind if something happens.
Most umbrella policies are not expensive. In fact, insurance experts say $1 million in additional liability coverage will usually cost between $150 and $300. Add another million and expect to pay an additional $75 to $100.
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.
If you want to stay abreast of how much homeowner's insurance you should have to replace your dwelling, you can get a rough estimate by multiplying the square footage of your home by the building costs in your general area.
Commercial vehicles used in business, especially large trucks, are not only more expensive than those for personal use, they also hold their value. You need a commercial policy that ensures you are not in a financial bind if something happens.
Most umbrella policies are not expensive. In fact, insurance experts say $1 million in additional liability coverage will usually cost between $150 and $300. Add another million and expect to pay an additional $75 to $100.
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.
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.
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.
If you want to stay abreast of how much homeowner's insurance you should have to replace your dwelling, you can get a rough estimate by multiplying the square footage of your home by the building costs in your general area.
Commercial vehicles used in business, especially large trucks, are not only more expensive than those for personal use, they also hold their value. You need a commercial policy that ensures you are not in a financial bind if something happens.
Most umbrella policies are not expensive. In fact, insurance experts say $1 million in additional liability coverage will usually cost between $150 and $300. Add another million and expect to pay an additional $75 to $100.
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.
If you anticipate having to care for an elderly relative who is in good general health, but may suffer from other issues, long-term care insurance is available to help cover the expenses of off-site adult day care. Having access to this type of help allows you to retain some of your freedom and independence.
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.
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.
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.
If you want to stay abreast of how much homeowner's insurance you should have to replace your dwelling, you can get a rough estimate by multiplying the square footage of your home by the building costs in your general area.
