by Karl D. Susman
21. October 2009 06:06
Earthquake-Insurance-issues
by Karl D. Susman
19. October 2009 06:04
Do-I-need-Renters-Insurance
by Karl D. Susman
18. October 2009 06:03
Installing-a-pool-do-I-need-insurance
by Karl D. Susman
17. October 2009 06:02
How-much-homeowners-insurance-do-I-need
by Karl D. Susman
16. October 2009 06:00
Do-Auto-Insurance-policies-cover-renting-a-car-after-an-accident
by Karl D. Susman
15. October 2009 05:56
What-to-do-after-a-car-accident
by Karl D. Susman
14. October 2009 05:46
H1N1-Swine-Flu-Questions-and-Answers
by Karl D. Susman
13. October 2009 05:40
Should-I-Purchase-an-Umbrella-Policy
by Karl D. Susman
12. October 2009 05:44
An umbrella liability policy, also called a "personal excess liability" policy, is designed to protect you in case of a big judgment that would quickly eat up your regular policy coverage. These policies are relatively inexpensive because the insurers are betting you'll never need to file a claim. Their coverage takes up where your home and auto policies leave off; thus you will need to have certain levels of basic home and auto liability insurance before you can qualify for an umbrella policy. Generally, these would be $100,000 in liability coverage on your homeowner's policy and $250,000/$500,000 on your auto ($250,000 per person, $500,000 per accident; or sometimes $300,000 in single-limit coverage).
Your premium for the umbrella policy will be determined based on the number of houses, rental units and vehicles you own. If you have one house and two cars, a typical premium costs $100-150 for $1 million in coverage. You will get $2 million in coverage for only about $50-$100 more in premium costs.
Subscribe