Umbrella Insurance
by Tim Jolly, CPCU, CIC
Lake Shore Insurance Agency
"Let a Smile Be Your Umbrella"
Song by Sammy Fain, Irving Kahal, and Francis Wheeler
Does this song sound familiar?
I want to discuss another kind of umbrella or Personal Excess Liability Insurance.
This type of policy provides coverage over and above the limits of liability on "both" your auto and homeowners policies. If you have assets ( home, vehicle, savings, 401k, investments, property etc. ) to protect from potential lawsuits, then this is the policy for you to purchase.
You usually need primary liability limits on your auto of $250,000/$500,000 bodily injury and $100,000 property damage, plus have a homeowners liability limit of $300,000 to qualify for a personal umbrella. This umbrella can provide excess limits of $1,000,000 to 10,000,000 or higher.
It is important to remember to make sure your home, auto and umbrella are with the same insurance company to prevent gaps in coverage. This type of umbrella will provide you with excess liability limits over your home and auto and can extend to your boat, RV or motorcycle, and also rental dwelling exposures, ( liability to others ).
In addition for a small charge you can also protect you and your family from injuries caused by an uninsured or under-insured driver of a motor vehicle. Your auto policy limits would apply first and then the personal umbrella excess would then apply.
With the added security provided for you by a personal umbrella, you can have "Your Umbrella Make You Smile"
For additional information on a personal umbrella policy please call or email:
Tim Jolly, CPCU, CIC
Lake Shore Insurance Agency
4855 South Main Street
Akron, Ohio 44319
330-869-7777
The Eshelman Legal Group
The attorneys at the Eshelman Legal Group understand that no matter how cautious you are, others may not be so careful, and accidents happen. So we hope you don’t need to, but if you are in a situation where you need the advice of a professional injury lawyer, the Eshelman Legal Group is here to help you. For over 40 years we have been assisting accident victims, and we are here to assist you too... because “We’ll make things right.” .
Ask yourself this question… who does the insurance adjuster work for? The adjuster works for the insurance company, they do not work for you.
Call: 1.800.365.0001
Our practice is limited to the representation of people, not insurance companies. Our years of experience make us a serious force, widely respected by insurance companies. The result is the ability to obtain top dollar settlements for our clients. Your first, no-obligation consultation is free, so you have nothing to lose—and everything to gain. Simply call 1.800.365.0001