In the interest of health and safety of our clients and staff effective today we will be closing our doors to all walk in business until further notice. Cash payments will he handled on a case by case basis so please call our office to make arrangements before coming to our office.
We will still be answering phones and there will be no interruption to your insurance needs.
Please keep in mind we can also fax, text, e-signature and email! Please let us know if we can help you.
Sincerely,
MIke Mehrbrodt
If your family has accrued assets over the years, including a home or homes, retirement savings, brokerage accounts, and cars, you may need to protect those assets with an umbrella policy. This is important, as most basic insurance policies only cover a portion of these assets.
When you have company automobiles, you need to have at least the mandated basic insurance coverage. However, because several people may use these vehicles, it is a good idea to extend your coverage with an umbrella liability policy so you are not driven to the poor house in the event of an accident.
Daylight savings time change is only a few short weeks away. Time to turn back those clocks, change the batteries in the smoke detectors and put on a new set of windshield wipers on the car. It's also a great time to review your auto & home insurance policies. Feel free to call our office for a quote or just a policy review.
In an umbrella policy, the term “umbrella” refers to how the policy shields your assets more broadly than primary liability insurance does.
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.
In most cases, you must have a minimum amount of liability coverage—usually at least $250,000 on your auto policy and $300,000 on your homeowners’ policy—to add umbrella insurance.
Who needs umbrella insurance? Someone with a valuable home, investments and personal property should consider umbrella insurance in order to protect those items.
Wondering if you’re fully covered? A good way to check is to add up all of your assets, and what you’ll earn before retirement. Then compare that to your liability limits on your insurance. If the limits are less, then an umbrella policy will make sure you’re covered.
Check with your insurance professional if you are considering an umbrella policy. Many insurers require that you have at least $300,000 or more in basic liability coverage before they will write an umbrella policy.
A common deductible for collision and comprehensive coverage is between $100 and $250. That's what you pay before the insurance company handles the rest. If you choose a deductible of $1,000, you can save up to 30 percent on your auto insurance.
If you are having your home remodeled, you may want to consider adding an umbrella liability policy to your homeowner’s insurance to protect you in the event of an accident. Even if the contractors have insurance, that does not mean action cannot be taken against you if someone is hurt.
In addition to covering damages that may be awarded to a plaintiff, an umbrella insurance policy will also pay your legal fees if you are taken to court. There are different levels of coverage, so discuss your situation with your insurance agent.
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.
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.
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.
Even if you personally don’t drive a luxury vehicle, that doesn’t mean you can’t get in an accident with one. Or even two. Damages to these expensive cars can easily exceed your limits on your car insurance, but you won’t have to worry if you have an umbrella policy.
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.
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.
If you work from home, you may want to consider adding an umbrella liability policy to your insurance portfolio to protect yourself in the event of work-related accidents that may occur during the course of dealing with your clients.
