Back up your car insurance with an umbrella policy

April 16, 2012

You may not be sued by automobile collision or liability insurance if your home costs more than your willing to pay. But there is a type of insurance can guarantee that you will not be eliminated in the financial sense, if disaster occurred.

Umbrella insurance policies provide additional liability insurance claims of more than your existing homeowner’s or auto insurance policy, the most common affluent people to buy a lot of assets to protect.

But not so wealthy people can also benefit from additional coverage if they have a family or a swimming pool or trampoline condominium, if they have a dog, or if they have teenage drivers.

Harrington insurance agencies, insurance agents, in Brockton, Massachusetts, USA, “Nick said:” If you have a home or apartment, it is definitely worth the time to consider these policies, Cummings

Because the personal umbrella policy takes effect after the exhaustion of the basic coverage, certain limits must be met to purchase additional coverage. Most companies are insured to authorize an increase in the $ 400,000 of liability insurance of at least $ 275,000 covering total liabilities of $ 100,000,000 policy of liability insurance car policy and a homeowners’ policy.

Randy Rohrbaugh, deputy director of the Pennsylvania Insurance Department, said that consumers should analyze their personal assets, to determine how much insurance umbrella insurance policy to meet their

“If you do not have significant wealth, you are the possibility of prosecution for damages outside of your wealth is impossible,” he said. “Even in the case of your judgment, like radish, a compressed blood

Umbrella insurance sold $ $ 10,000 of additional coverage of $ 1 million increments and the average cost of $ 150 to $ 300. Generally the cost of ten thousand per million, about $ 75 per year and about $ 50.

However, some insurance companies may not want to write public figures, politicians, police, and in some cases, even the leaders of civil society organizations, the personal liability umbrella policy, Cummings said.

“They may be sued for defamation,” he said, public figures, an example of the risk.

Automobile and homeowners policies, the policy of insurance agents who write binding authority. The umbrella policy, the completed application must be submitted to company approval.

Dave Phillips, spokesman for State Farm Insurance Co., Ltd. in Concordville, Pennsylvania, in a society increasingly litigation jury awarding hundreds of millions of the judgment said that the umbrella insurance policy is increasingly necessary.

“In the past, people used to think a ton of assets or money to those who should have personal liability umbrella policy,” Phillips said. “But how evolution, or even a typical home, an increasing number of passengers of the two-car accident can be faced with a staggering responsibility.”

He said, also has a real driver of the children. Parent can be inherited liability. He added that losses may exceed the restrictions of the homeowners policy, if the contractor is hurt or property is a house guests a slip from the autumn.

Consumers began to realize that their personal assets at risk, “he said.

Filed under: young drivers — admin @ 11:56 pm

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