RSS Feed

Financial Fitness Blog

Make sure you’re covered! Facts about umbrella insurance

(Insurance) Permanent link

Mark Blog Photo"A young woman ran a stop light and collided with another car, killing an adult and child. The courts found her negligent and ordered her to pay the “wrongful death” limits in Wisconsin of $850,000. The woman had an auto policy with liability limits of $500,000 per claim, leaving her with an uncovered loss of $350,000. If this woman would have had a personal umbrella policy, it would have paid the remaining $350,000. Without it, she will have to pay it from her personal assets."

Without umbrella coverage, everything you’ve worked hard for—your assets, your college fund, your nest egg, your retirement savings—could be at risk if you are found liable to others as a result of an accident or other catastrophic event.  Besides the extra liability protection, a personal umbrella policy provides you with protection for situations not usually covered by your home policy, such as libel, slander, wrongful eviction, and invasion of privacy. With the protection of an umbrella policy, the legal costs associated with such claims are covered, giving you the peace of mind you need.

Learn more about personal umbrella insurance by viewing this short video or call us for a comparison quote at 1-800-279-4010.

Mark Dannehl, Personal Insurance Consultant

 

Insuring Items of High Value

 Permanent link
Mark Blog PhotoMany homeowners assume that their home insurance policy protects all of their possessions, even those of extreme value. However, standard home policies provide only limited protection for high-value items. So how do you make sure your family heirlooms or precious jewelry are fully insured? Adding an endorsement (sometimes called a rider or schedule) to your home policy for valuable possessions can provide coverage for their full worth. The process for endorsing valuable personal property differs by insurers, but many times you will need to have the item(s) appraised. Based on the appraisal, your insurer will then extend the appropriate coverage for the item(s) to your home insurance policy for additional premium. Give us a call at 1-800-279-4010 if you have questions about your insurance coverage.