Don’t get Caught in the Storms of Life without Your Umbrella

When was the last time you reviewed your  car insurancepolicy, or home insurancepolicy to make sure that you have the proper coverages and the appropriate limits? If you have previously set your homeowners insurance limits as low as possible to try to save money or assume that you don’t need to have high limits on your Car Insurance
because you are a young, new driver without much to your name, think again!


A word to the wise, before you write off the idea of high limits and without a second thought assume that an umbrella insurance policy just isn’t for you, you could be in for a shocking surprise. For example, what do you do if you get into an accident and are sued, and your car insurance policy does not cover all of the damages? Did you also know that if you are found responsible and you cannot pay the remaining damages that your wages can be garnished until the entire debt has been repaid?


It’s pretty scary to think that you could technically be paying a portion of your salary to someone else for several years up to eternity if enough damage is done. This is where an Umbrella Insurance policy would come into play. An umbrellapolicy is for when the liability portion of your existing auto insuranceor home insurance policy has been exhausted. As in the example above, your umbrella policy would kick-in and help out with the damages remaining after your car insurance policy has paid out its portion but, typically before you need to dip into your own pocket.



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