Tuesday, November 27, 2012

Do I Need an Umbrella?


Have you ever hosted a party? If a guest is injured on your property or causes an accident after being served drinks at your home, you could be held responsible. Think about this for a moment...We've all hosted parties, right? Liability extends off the premises as well. On the subject of umbrella, let's say you're at an outdoor event and it starts raining, so you open up your umbrella and poke the person behind you in the eye. He decides to come after you for damages. It might be nice to have a little more coverage, right? My point is, when it comes to having more liability coverage, we could all use it.

Many people incorrectly assume they don't need umbrella insurance - that it's just for rich people. However, simple accidents can result in multi-million dollar lawsuits that put their important assets and future earnings at risk. Studies have shown the average homeowners policy has limits between $100,000 and $300,000 for Personal Liability. These days, this is not enough. In some cases, for as little as $10 a month (rates vary according to the risk and state), you can gain the protection and peace of mind with a Personal Umbrella.

Some highlights of having an Umbrella:

- Additional liability coverage from $1 million to $5 million.

- Bodily injury and property damage in an accident that exceeds your auto liability limit.

- Bodily injury in the event of an accident on your property in excess of your homeowners liability limits.

- Additional coverage for your primary and secondary homes, rental properties, automobile, motorcycle, motor home, watercraft and more.

- Legal defense fees not covered by your current policy - including libel or slander judgments.

- Extended protection for your current assets and future earnings.

The Importance of Personal Liability Insurance   Thank Goodness I Have an Umbrella! So What Is It?   The Need For Umbrella Insurance   Why You Should Consider Umbrella Insurance   



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