Anne
M. Braun
June
2010
People
often believe that an umbrella policy is needed by those who have large incomes
or own more than one property. People often think that it is important
protection for everyone else but not for them.
A
personal umbrella policy can give you more protection for your dollar than
any other policies. For instance the annual average cost of a million dollar
umbrella policy for one home and 2 cars is approximately $200.00. Sounds like a great deal. Here are some coverage’s that the personal
umbrella will provide:
1)
Legal
Defense and settlement costs. These
costs are not subtracted from the limit of Coverage. Coverage includes expenses for defense
council, appeal bonds and lost earnings in some cases
2)
Worldwide
coverage
3)
Fills a
gap when the coverage on your primary liability policies denies coverage. An example of this might be for claims
alleging damage for libel and slander.
Minus a small retention umbrella policy will apply
4)
Large
losses that could exceed your liability limit on personal liability policies
In
today’s times when people will sue someone in an instant an umbrella policy can
provide peace of mind. No one can
predict the future, and for a small premium an umbrella policy can protect when
the limits of insurance on our policies are reached and we need added
protection. No one should be without
this policy.
If
an umbrella policy isn’t included as part of your personal insurance package it
should be.
Anne M .
Braun
Gundermann & Gundermann
631-350-1432