Insurance Info

What is an umbrella used for, really? It keeps you dry, protects your hairstyle from the rain and makes a great conversation piece when you’re getting together with your friends for coffee. An umbrella policy isn’t quite as versatile as its nylon counterpart (hairspray may be a complete waste of time if it’s raining) but it does serve a very vital purpose-protecting your finances from unforeseeable disasters that can bleed your bank account dry.

Picture this:

Your neighbor (who you never really liked anyway) slips on your front steps and seriously injures themselves. What they were doing on your front steps in the middle of the night in the middle of a blizzard without their walker is a complete mystery, and doesn’t really matter. What matters is the fact that they are now suing you for millions of dollars for medical expenses and pain and suffering. Your homeowners insurance tops out at $400,000. What do you do now? Continue reading ‘The 411 on Your Umbrella Policy’ »

Have you ever been caught out in the rain without an umbrella? If so, I’ll bet that you felt really stupid, right? In addition, you got soaking wet and most likely caught a nasty head cold as well. Well, in these uncertain times, it’s just as dumb to venture forth without the proper financial “umbrella” to protect your assets from those unexpected financial storms. I’m talking about personal liability insurance. More specifically I’m talking about an umbrella policy, which is a special kind of personal liability insurance that provides you with extra insurance protection. This type of insurance is referred to as an “umbrella” because it brings together various different components that are normally covered by separate professional liability policies.

When it comes to personal liability insurance, an umbrella policy is simply one of the best investments you can make. Not only does this type of policy provide addition coverage above and beyond what is allowed in a traditional policy (for example, if you cause a car accident and are sued, your maximum liability may not cover the amount of the settlement from a lawsuit), but it will often cover things that are not normally addressed in a traditional policy such as a copyright infringement case or a defamation suit. Another benefit of an umbrella policy is the price. Monthly premiums on a seven-figure policy are much cheaper than it would be for a single insurance policy. Depending on the state in which you live, it’s not unheard of to carry a four or five million dollar policy for as little as $300 a month. Continue reading ‘You Need an Umbrella Policy to Become a Millionaire’ »

Most individuals are relatively familiar with the basic types of insurance coverage such as auto, homeowners, health and life insurance. Even those who do not have an active policy are likely to have a basic understanding of how they work given the prevalence of insurance in today’s society. One of the lesser known types of coverage is umbrella insurance, and despite being lesser known it can be extremely helpful in a wide range of circumstances. The following will describe what umbrella protection is and highlight the basic protections it offers. Please note that this article is not intended to replace professional advice.

Simply put, umbrella insurance is fills in the gaps where auto and/or homeowners insurance leaves a shortfall. It is a way for insured individuals to receive extra protection and cover aspects of auto insurance policies and homeowners insurance policies not already covered. As is to be expected, those who obtain an umbrella insurance policy will have to pay an annual premium on top of their other insurance coverage policies, but the annual premium is often worth the extra peace of mind which an umbrella insurance policy provides to insured persons. Continue reading ‘Umbrella Insurance and Additional Coverage’ »

Who wants to be the guy asking his five year old ” Now….., where did you get those matches?”, as he sees his, not to mention his two neighbors homes, engulfed in flames? Not you, not me. That is also a tad bit worst case scenario, most fire departments are pretty quick and it’s only your home that burns down.

Liability can arise from daily tasks almost all of us perform, like driving. Remember the five year old, just add 11. Liability arises from everyday business that takes place and provides people an income. Liability can arise from advertisements. You’ve heard of bodily injury, well don’t forget about their feelings and or reputation, it’s called personal injury. Amazing times we are living in. How is an individual going to function and create an income with all these different liabilities arising from his daily ventures? Not to mention some of, or all of, his childrens’ activities. Liability is out there and attorneys take it seriously, the attorneys client has to be made whole, or in other terms, they have to recover from the damages and recover for damages. So how much liability coverage does the average Joe six pack need then, and how does it differ in relation to his profession. Continue reading ‘Who Needs an Umbrella?’ »

You can buy all the coverage you want for home and auto insurance, but it doesn’t mean that you will be completely covered. Though the odds of it happening are slim, perhaps you will be served several claims because you were the cause of a multi-car pile up on the freeway, or you will be sued for an unreal amount of money by a man or woman who fell on your property…and they win.

The reality is that your coverage plan can only cover so much, which is why many insurance companies also offer personal umbrella protection to policyholders. This type of coverage works after your home or auto insurance policy exhausts itself after an unfortunate circumstance, and there are still damages and repairs that need to be honored. It is a great way to insure you and your family extra protection because you will never know when a major catastrophe could threaten to wipe you out financially. Continue reading ‘Personal Umbrella Protection – Added Protection For Extraordinary Circumstances’ »

Peace of mind could be worth a lot. That is why I suggest having an umbrella insurance policy. It shields you from liability from charges that go beyond what your traditional insurance covers. In this article I will tell you why and you should have an umbrella policy and how to obtain one.

First, umbrella insurance doesn’t just cover you from damages due to an auto accident it can save you from financial ruin. It can protect you from things that are beyond your control Such as if someone was to be hurt on your property and was to sue you, Your regular insurance will pay the damages up to what it’s liability is, then your umbrella policy will kick in. If you don’t have such a policy under some circumstances and in certain states you could lose your home and car. Continue reading ‘How to Get Umbrella Insurance at the Best Price’ »

Payment Protection Insurance (PPI) is a loan that is provided to cover a debt that is presently outstanding. It is an insurance product in the form of loan or an overdraft, and is commonly sold by banks, insurance companies and other credit providers as an add-on to the loan or overdraft. The credit providers offer this loan to you if you are unable to pay some debt on time due to financial crises.

Payment Protection Insurance is at times also known as Credit Protection Insurance or Loan Repayment. The suppliers of this insurance can vary slightly however, Payment Protection Insurance covers a person against an accident, unemployment, illness or death. All these are circumstances that may be a reason for preventing a person from earning a salary by which they can pay their debt. Continue reading ‘Do I Need Payment Protection Insurance?’ »

Everyone buys insurance. You have to if you drive or own a home. It’s a good idea even if you don’t. But how do you know how much insurance to get? There’s no sense in paying for insurance you don’t need, but you want to make sure you’re covered.

There are two types if insurance – covering something you own and covering yourself for liability. Insuring your own belongings is pretty straight forward. Is you car worth $20,000? Then you should probably insure it for that amount. There are variables in this kind of coverage. What deductible are you willing to pay in the event that a loss occurs? Is it covered for its depreciated value or full replacement value? How can you prove the value of something that was lost? All of these questions are answerable before a loss occurs. We don’t always go through the steps we should until it’s too late, but we can. Continue reading ‘Make Sure You Have Enough Insurance’ »

Picture this scenario – You win the lottery and you start to buy the things you’ve always dreamed of. You buy a big, beautiful house, a new luxury car, a shiny yacht. You might say to yourself, “Forget about insurance – If anything happens to my property, I have enough money to just replace it.” This may be true, but you probably haven’t considered liability, especially since you are rich and have just become a target for lawsuits, especially frivolous lawsuits. A good umbrella insurance policy would cover this.

Consider this, someone slips on the snow on the front property of your new house. Or someone falls off of your boat. Or you hit a bicyclist while driving your car. Or somebody that knows you just won the lottery launches a frivolous lawsuit. First of all, you need to have an auto, home, and boat insurance policy to cover the liability in these types of situations. But, these types of policies usually only cover you up to a million dollars. But being that you just won the lottery, people will know that you are rich enough to cover a lawsuit of more than a million dollars. That means, in a successful lawsuit against you, you could be liable for more than $1 million. A good umbrella insurance policy would cover this type of risk. Continue reading ‘Lottery Winners' Liability – Best Defense Against Frivolous Lawsuits is an Umbrella Insurance Policy’ »