Say it out loud: “Today I will schedule a time to talk with my insurance person about an umbrella insurance policy.”
Why? Soaring healthcare costs and the lawsuit-crazy world we live in certainly can put you at risk of exceeding your liability limits on your home and auto policies. An example: you are driving and slide on some ice and strike another vehicle and the driver of that vehicle suffers a broken arm. You would think your auto policy liability coverage should be enough, but in this case the driver is a surgeon who can’t work for 18 months. You could end up with liability above what your policy pays. This is where the umbrella policy will step in and cover much higher limits. Typically, people will get coverage of $1-2 million, depending on their lifestyle.
Umbrella insurance policies are inexpensive assuming you have adequate limits on your existing policies. It will be a good opportunity to review all your liability limits and make appropriate changes to protect your assets. A competent insurance person can help guide you in determining the best coverage for your situation.
Schedule it today!