Life is unpredictable. Of course, you already know this. But have you considered all the risks you are currently facing? Distracted drivers. People who use social media to expose others' dirty laundry. Teenage drivers, car pools, pets, parties and even your temporary housekeeper are all examples of everyday risks.
Our society is also more controversial than ever and trials are common. So it's not a question of whether something unexpected will happen, it's really a question of when and how bad it will be.
Many people carry only $ 100,000 in liability protection. It sounds like a lot of money, and it is! But when you talk about serious injury, especially if several people are involved, $ 100,000 does not go that far when you consider medical bills, pain and suffering, lost wages, emotional distress, persistent pain and scarring and more. 19659002] Here is the scary question: what happens if someone is injured and you do not have enough insurance?
That's why umbrella insurance is so important!
If you're like many people, you've never heard of umbrella insurance. Simply put, it adds another $ 1 million or more to cover your existing policies. It gives you greater peace of mind and protects you from life's unexpected surprises.
You do not have to be a millionaire to be sued like that.
Umbrella coverage is not just for high earners. It's for everyone especially if you:
- Own a home
- Have regular income
- Have pension savings and other assets to protect
- Maintain the guests in your home
- Have a teen driver
- Enter sleep, baby showers, carpool kids or let your teen babysitter
- Serve on a volunteer board or attend your HOA
- Use social media
- Own rental properties
- Travel outside the US
- Own jet skis, motorhome, snowmobile, ATV, golf cart or other "toy"
- Have pets
- Own firearms or other leisure weapons
How many of these apply to your life? Each one increases your responsibilities and your need for a risk assessment with an independent agent. Understanding your risk will help you better protect yourself and your family.
What happens if your home or car insurance does not cover a loss?
Were you aware that home and car insurance do not protect? you against all kinds of responsibilities?
Think of these two hypothetical scenarios:
You hear a juicy gossip about one of your neighbors. You share it with your closest friends at a neighborhood in the neighborhood and swear to silence them. Of course, as gossip often does, it comes back to this person. You will be sued for libel, but many homeowner policies do not cover libel.
You have saved the money to go on a romantic vacation to Europe. Instead of taking a trip, you decide to rent a car and see all the main sights on your own timeline. Unfortunately, you forget to drive on the other side of the road and cause a collision and someone is injured – but your car policy does not cover you when you are outside the US or Canada.
In both of these hypothetical scenarios, an umbrella policy may have provided coverage to protect you even if there was no coverage from the primary homeowners or car insurers (subject to limitation and conditions, of course). It can also help with law firms!
Conclusion: a personal umbrella policy can help you protect yourself from various risks when the unexpected happens.
peace of mind costs less than you think.
Without an umbrella policy, your assets, savings and even your future income may be at risk if you are held legally responsible for a claim. For about the cost of a dollar a day, umbrella coverage offers an affordable way to prepare for the unpredictable.
Contact Bolder Insurance Advisor for a quote or risk assessment.
Blog provided by Safeco Insurance