Insurance Umbrella
insurance umbrella
WebCE(R) Releases a New Course for Insurance Professionals Serving Rural America
DALLAS, TX–(Marketwire – 06/02/10) – WebCE, a nationwide provider of continuing education for insurance professionals, continues its commitment to offering a comprehensive catalog of continuing education (CE) courses with the addition of its latest course, Agricultural Insurance and Risk Management. Written by IRMI, Agricultural Insurance and Risk Management presents the concept of risk …
Umbrella Insurance Ad
is it necessary to purchase umbrella insurance?
My husband and I are retired. We are receiving social security .Our home is pay off. We have auto insurance from Allstate and home insurance with Tower. The agent from Allstate wants to sell us an umbrella coverage to l million. I have 300,000 for home liability and 500,000 for auto. Do we need to get more coverage? We only use about 2500 miles for year.
The umbrella has nothing to do with how many miles you drive.
Do you have significant assets?
If yes, then you may want to consider an umbrella to protect those assets.
Here’s the example: You are 1 mile from your home on the way to the grocery store. You don’t mean to….but you cause an accident and someone gets hurt. They have really bad injuries and decide to sue you. If their injuries exceed the amount of coverage you have…then they can go after your personal assets. That means, you could lose them.
An umbrella itself is not that expensive. What’s expensive about them, is the underlying coverage you are required to carry. Granted, I’m not an agent so I don’t know the specifics, but you already carry close to that.
So, if you significant assets that need to be protected, then yes, you should consider an umbrella.
And you don’t have to get an umbrella policy from Allstate. It can be from a different company than the ones you have your under lying coverage with. So it’s ok to shop around and see where you can get the best deal on the umbrella policy (if you decide to get one).