It’s a new year, a clean slate! While sorting out files for the new year and collecting information for tax preparation take a minute to look at your assets. Do you have enough liability insurance coverage on your auto(s), home(s), boat(s), rental dwelling(s), recreational vehicle(s) or business to protect you if you were involved in a serious accident and sued? If not covered properly a lawsuit could cause you to lose what you own. Defense costs, medical and property damage bills add up quickly and your primary limits of liability could be exhausted before the claim is settled and that is when the balance comes from your own pocket. This is where an Umbrella policy comes in. It picks up where the underlying policy limits end. It is a separate policy and it works just like an umbrella. It covers over the underlying liability policies. It starts out at $1 million and can go up to $5 million on most Personal/Farm Umbrella policies and $10 million on Commercial Umbrella policies. The costs can be minimal depending on what you own and is included under the umbrella. Minimal meaning a Personal/Farm Umbrella could be as little as $150 for $1 million.
The time is now to get your “assets” protected. Give us a call for a free, no obligation, quote.