Always Carry An Umbrella

Here's a scenario: If you were to cause an accident that destroys the other car, and the driver and passengers are injured, how much would your insurance cover? And how much could end up coming right out of your pocket?

Truth is, the costs that can be recovered from a major car accident can be very high:

• Medical treatment expenses
• Income loss from missing work
• Pain and suffering
• Emotional distress
• Property loss
• Punitive damages

And a good personal injury lawyer will find even more damages to add to that list. That's why we recommend you get a Personal Umbrella Policy.

Umbrella insurance is a personal liability policy that will provide you extra protection from lawsuits that may arise from things such as:

• damage you caused to someone's property
• injury in an accident on your property or caused by your dog biting someone
• false claims and arrests
• slander
• invasion of privacy

Umbrella insurance protects you if you are sued under your insurance policy on your house and/or your car for amounts that exceed the limits of those policies. It protects you if you are sued for slander, and also covers legal fees. Umbrella policies cover your future earnings, as a court could award part of your paycheck as settlement for the rest of your life.

Learning the simple truth about Umbrella Policies can make them an indispensable part of your insurance coverage. Don't delay, call us TODAY at 508-347-9343 and get yourself a good umbrella.

Why Should I Get An Umbrella Policy If I Have The Homestead Act?

Many people ask why they should have a Personal Umbrella if they already have the Homestead Act on their home. Many people underestimate the “coverage” that the Homestead Act provides. As of March 16, 2011, the Homestead Act will provide “up to” $500,000 of the equity in their homes for a judgement that is made against the homeowner so that residence is not jeopardized by creditors. Homeowners that purchased their Homestead prior to March 16, 2011 have the limit at that time of purchase. This sounds great, right? Maybe not so good, here’s the “catch”. In order for the Homestead to pay out; there has to be an actual judgement made against the homeowner. This does not include legal fees, it’s just the judgement. If you cannot pay the legal fees in order to protect yourself, what good was that Homestead? What if you’re falsely accused and no judgement is made? The Homestead doesn’t provide coverage at all. The Personal Umbrella provides legal fees and the judgement (up to the policy limits and exclusions) whether you’re innocent or guilty.

Is There Coverage For My Company Car On My Personal Umbrella Policy?

Under the standard Personal Umbrella Policy there is not coverage afforded for the company car that you may be driving on a regular basis unless you are using that car for personal use AND you have “Use of Other Vehicles” endorsed to your Personal Auto Policy and also have that vehicle listed on your Umbrella at the time of a loss. The vehicle also cannot be “owned” by the named insured. Now if you happen to take the company car that is “not provided to you for your regular use” and happen to have a loss while you’re running “personal” errands, then the Umbrella Policy would afford coverage automatically. If that same scenario were to happen with the company car that was provided to you for regular use; you would need to have that vehicle endorsed to your Auto & Umbrella policies in order to have coverage. This is a tricky situation to say the least, so please contact our agency if you have any questions.