Tag: insurance car

We’ve all heard the stories of the emergency room claim costing $11،000 for a broken finger, or the person who had to go bankrupt from the huge bill while using a network outside of their HMO.

These stories have been fuel for arguments about what should be done with the nation’s health care system. The truth is، these stories happen more often than most people realize, and many have misconceptions about how this happens. That’s why it’s essential to have the right billing network in place to take advantage of the most favorable and preset pricing available.

Let’s take a look at some scenarios where one person is stuck with a high medical bill and the other is protected. Suppose two people enter an emergency room for the same injury، one has adequate health insurance and the other has none.

The emergency room will know immediately that each patient will be billed differently. The person with the right network billing plan will be able to take advantage of a nationwide network، allowing for pre-set pricing for most any medical condition you can name.

The other will be at the mercy of what the emergency room decides to charge. Depending on the medical condition, the difference in what is paid can be over tens of thousands of dollars. The catch is that to receive this default billing you must have access to the participating billing network.

When you take a closer look at how these billing networks work, it becomes clear where you can be exposed، especially on the smaller networks. No one knows this better than the self employed and those who do not receive insurance provided through work. When an individual purchases health insurance on the exchange “Healthcare.gov”، the only network options available in Texas are HMOs، or limited networks.

These networks are designed so that the insurance company and the medical establishment share the losses, hoping to bring in excess patient volume to offset the losses. Even these smaller types of HMO networks can have large holes in their billing networks.

For example، if an individual has surgery within their HMO network، they may still be in for an unpleasant surprise when the final bill arrives. Although their surgeon is likely covered, both the anesthesiologist and the surgical equipment rented for the surgery may fall outside the HMO’s billing network, causing the patient to pay thousands of dollars. You guessed it, no word of warning, just a bill that health insurance won’t cover well after surgery.

The only way to avoid a small HMO network pricing trap is to take advantage of much larger billing networks, allowing you to avoid the pitfalls uncovered. These networks، or larger providers, may have hundreds of thousands of participating doctors and medical facilities from coast to coast. Many of these nationwide networks mandate that their preferred discount be the primary or first billing method, protecting the patient’s financial interests from any threat of overcharging.

In fact، these preset pricing modules are so accurate, some insurance companies tailor their coverage to reflect preferred billing, thus limiting out-of-pocket costs by thousands of dollars. Those using this service can rest easy knowing that their interests will be protected moving forward by the right billing network with unlimited nationwide networks.

Although these billing network giants are elusive in today’s ACA health insurance environment, they exist across the country, including Texas. In fact، I’ve helped dozens upon dozens of customers take advantage of these unlimited networks over the past few months alone، at prices far more reasonable than ACA policies.

It’s important to consider network billing plans when choosing the right health insurance plan for your family، especially for those who don’t qualify for a subsidy “the federal income credit is given to those with limited financial means”. It is extremely important to speak with a health insurance professional who has access to these unlimited billing networks in order to protect your financial interests.

You need to shop around for your own insurance coverage: Blindly sticking with the same company year after year will rarely, if ever, result in the best coverage for the best rates. I suggest that you bring in 4 agents every year, or at least every two years، to review your insurance needs، recommend coverage, and provide costs.

I would bring in a regional independent agent, a lead independent and a direct carrier agent. By doing this you are achieving a number of things. First, you are shopping for the best costs. But secondly، and just as importantly, you’re looking to find out what coverage each will recommend. This will help you find out if your current coverage is adequate, whether you are covered or undercovered. If all three companies recommend the same levels of coverage, then you’re probably safe. If two of the three recommend higher or lower levels of coverage than you have، then you better find out why and see if you agree.

You don’t need to be an insurance expert as long as you’re dealing with someone who is. You want to benefit from their expertise, and by undergoing this process at least every two years, that’s exactly what you’ll be doing.

You want each to give you a complete written proposal, including recommended coverage, explanations for those recommendations, and costs for each. Without the cost for each coverage area, you’ll have no way to effectively evaluate one company against another, and you’ll lose the option to pick and choose policies for different coverage areas from one company to another.

Remember, you don’t need to have all of your coverage with one company. In fact، if the individual costs aren’t all the best with one company، or if a company doesn’t have a specific package plan for your type of business, you probably shouldn’t keep all the coverage with one company.

There’s no reason why you can’t have business coverage with one company and auto coverage with another, etc. In fact, unless you are given significant discounts for doing so، the only reason you would buy all coverage from one company، even though some policies may cost more, would be laziness or convenience that often it is nothing but another form of laziness.

I know of a company that had not undertaken a competitive review of their insurance for over 20 years. When they did, they saved themselves $30,000 a year or almost 15% in this case.

2. Make sure you are not over insured:

It won’t do you any good to insure something for $101,000 when the replacement value is only $76,000. The agent and company you more than enough. They will not reduce premiums if you have overstated something and therefore over the insured.

It’s up to you to know the value. If you cover equipment for up to $11,000,000 in replacement value and the total replacement value is only $5,500,000, that’s your problem. You should know or have a good idea of ​​the real replacement value. The opposite of this is also true, don’t be underinsured. Make sure you know if you are covered for replacement value.

This is an area where there is a lot of gray area. This is all the more reason for doing annual reviews. By doing these, you will get opinions and advice from a variety of different sources and a discrepancy is much more likely to emerge. Remember، don’t just ask agents and companies to quote on actual coverage, but to evaluate your operation and recommend coverage and provide cost.

3. Ask your agent what you can do to lower your insurance costs:

They won’t tell you unless you ask. By asking you express concerns about costs. Dissatisfaction with costs should be interpreted by the agent as a sign that you will look elsewhere for coverage. The agent suddenly has a huge incentive to try to reduce the cost control of your business.

4. Look for agents or carriers who specialize in your type of business:

Start by asking for suggestions from any associations you belong to. Also, ask competitors, suppliers, and even the Chamber of Commerce. If there are specific plans for your type of business, you should be able to realize significant savings due to the bundled types and levels of coverage. You will find that the necessary levels of coverage are built into the plan and that if purchased separately, they would cost you much more each year. I was able to save over $1,300 a year by finding a plan designed to cover companies in my industry.

A note of caution though, just because an agent tells you they’re offering a great plan for your type of business, don’t assume it’s true. You still need to get at least three quotes. The agent with the special plan may just be calling it to sell you when it really isn’t special at all. The plan may be designed for your type of business, but is overpriced or contains elements that may be suitable for most types of businesses in your industry, but are not needed at all for your business.

5. Make sure your insurance covers the replacement value and not the actual value:

It may seem like you’re saving money by covering the actual value, but if you have a claim and need to replace lost or damaged equipment, you’ll quickly discover you were too short-sighted. The actual value in most cases will be a fraction of the cost you would need to replace the item. Do not cut corners in this area. Make sure you have replacement value or at least coverage equal to what very good used equipment would cost.

6. Remember, premiums are just another name for payments:

Your purpose is to control these payments; buy only what you need and get the best value for your purchase. Ask for written recommendations on coverage and costs and have the agent justify these recommendations to you. Insurance agents are sales representatives. Insurance is their product. Don’t forget this. Plain and simple, like any other purchase you consider, they should justify the purchase to you.

7. Whenever you have a request, get your rating:

Don’t do what most companies do and just take whatever they tell you the claim is worth. This is not an open and shut case; just because they say so, doesn’t make it so. By securing your own estimate, you can either verify the insurance company’s estimate and know you have a fair settlement, or you can disagree with their costs and fight for a higher settlement. If you simply accept their estimate, you may find that the actual loss involved will cost more, much more in some cases.

In Pennsylvania, when purchasing motorcycle insurance، there are different things to consider than when purchasing regular auto coverage. The main difference is that for car insurance, Pennsylvania law requires a minimum coverage of $5,100 in medical benefits، also called “no fault” or PIP coverage.

However, with motorcycle insurance، Pennsylvania law does not require medical coverage. In fact, many motorcycle insurers do not offer medical coverage in Pennsylvania.

Another big difference is that there is no “limited tort” with motor insurance in PA. With Auto Insurance in PA, you have to choose limited or full tort.

Full damage is more expensive but protects your rights to make a claim for bodily injury/pain and suffering “there is no requirement for a “serious injury” with full damage”. With motorcycle coverage in PA، essentially all claims are full tort.

The other big difference in PA is that under the Pennsylvania Motor Vehicle Financial Responsibility Law, it is more difficult for a health insurer to “substitute” or make a lien to be discharged from an auto accident settlement or recovery.

The health insurance plan must be of a certain type. However, with motorcycle claims, your health insurance is not subject to the same restrictions and thus has a better chance of being settled by an insurance claim.

This may be more of a reason for you to consider getting medical coverage when purchasing motorcycle insurance in PA.

Another difference is that if you are injured in a car, you are more likely to “bundle” or combine any other separate household auto insurance coverage. Say، for example، your brother lives with you and has a separate insurance policy you may be able to get additional car accident insurance coverage under his policy.

Often in Pennsylvania, when you are in a motorcycle accident, any auto home insurance will have an exclusion which is not coverage if you were the occupant of a motorcycle.

So you won’t be able to bundle, for example, combine your motorbike insurance with your household vehicle insurance in that case.

THINK ABOUT THIS:

If you do not have health insurance, you should look for a motorcycle insurer and a policy that carries medical coverage. This is because if you don’t have medical coverage on your motorcycle, then your health insurance does.

If you have questions, you should make sure your agent explains the coverages to you.

You should also ensure that you have the motor insured against property damage. Keep all receipts for custom parts or accessories. If you ever have property damage to your motorcycle, you will need the receipts.

If your business involves shipping goods domestically or internationally, whether inland or across the ocean, you need to understand that the moment those goods leave the door، they change hands many, many times, and you never know what might happen.

To protect your goods and your business، you need marine insurance. But how to choose the right one? Here are some dos and don’ts:

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1. Do not confuse marine insurance with ship insurance. Vessel insurance protects water vessels and their passengers. It’s like car insurance, except the car floats on water.

Marine insurance is a completely different banana. Despite its name, it is not limited to protecting water cargo. It also protects cargo transported on dry land, in addition to protecting the vessel carrying the cargo.

This is why there is such a thing as “dry” shipping, for cargo carried on land, as well as “wet” shipping, for cargo shipped via actual ships.

2. Don’t lie on your application form. Don’t hide relevant information either. There’s a fine line between the two: lying on your form means you’re intentionally putting in wrong information. Withholding information means that it was not mandatory for you to disclose the information، but you know that disclosing it would have affected your policy in an adverse manner.

Either way، if you’re found to have lied or withheld relevant information, it will most likely void your policy, defeating the purpose for which you took out the insurance in the first place.

3. Don’t break your warranty. In insurance law, the guarantee is essential for the execution of the contract. If breached, the non-breaching party may، in addition to claiming damages, terminate the contract.

A common implied warranty in marine insurance is the seaworthiness (or seaworthiness) of the vessel.

Note that if a warranty is breached, this will not help the insured to remedy the warranty; the policy will be void regardless.

So before you take out a policy, make sure you are aware of all the warranties included and make sure you don’t breach any of them. Which brings us to our first task…

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1. Read the fine print. While the fine print can be tiresome to read, we all know—some through painful experience—ignoring it is like parking under a construction site: It’s only a matter of time before something hard and heavy hit you in the head, and you may not live to regret it.

The fact is, unless you’re a first grader just learning to read, it won’t take you five minutes to read the details of the contract you’re entering into. (Never mind if it feels like an hour—it really isn’t.)

The fine print will tell you the details of what you are paying for, what rights you may have that you may not be told about, and what conditions are not covered by your policy and what actions will invalidate your policy . For example, inadequately packed cargo is usually not covered. Neither are dangerous items such as fuels, firearms and chemicals. Others may not cover food, timber and animals. There may also be navigation limits that, if exceeded, will void your policy.

2. Compare policy offers. And don’t just rely on price.

Perhaps the reason that policy is so cheap is because it only covers present value, which is the value of your insured item at the time it was lost – and that includes depreciation, so you’ll probably end up getting a lot less than what you you are expected

On the other hand, that other policy may cost more, but it insures your item for the amount you’ve agreed to (agreed value), on paper, so when the item is lost, you’re compensated for the exact amount you expect . , which will allow you to immediately replace the lost item with a new one.

What about the causes of loss covered by the policy? Unclaimed policies cover only specific types of losses and may not cover acts of God. Then again, maybe they do.

Read the fine print to know exactly what you’re paying for. Just because it’s the cheapest marine insurance policy doesn’t mean it’s the best. And if you are in business, you should know that you should only invest in the best, or suffer losses later.

So you’ve started your own business. You’ve seen a hole in the market or come up with a brilliant new idea. You’ve done things in the process and maybe started making some money. Well, before you take it a step further، it’s time to think about insurance for your business. After all, you took a big risk by starting your company، and that means you need to mitigate those risks as best you can.

The hard fact about coverage and businesses is that you need it. Everything you own for your business, from vehicles to basic liability, requires insurance.

Without it، you could jeopardize everything you’ve built, open yourself up to damaging financial issues, or even run afoul of the law. But don’t worry، here are some basics for covering your business that can help you get the protection you need to succeed.

Types of business insurance:

The first thing you need to understand about coverage and your business is the different types that exist. Depending on your business, you may need specific types of insurance. In general, business coverage can be divided into three broad categories: insurance for owners or partners and key employees, business profits and property coverage، and liability insurance. Here is a breakdown of each different type.

If you own a business, you need specific types of coverage depending on how your business is set up. These may include, but are not limited to:

• Life Insurance.This coverage protects your family if something happens to you. If you are the sole owner of your business, this insurance is key because business owners are personally liable for all business debts.

• Disability Insurance. In the event that you become injured or sick, disability insurance will provide you with income for a certain amount of time.

• Partnership insurance or buy-sell cover. If you have a partner in your business, this insurance will help you buy out your partner’s shares and continue running the business in the event of his death.

• Critical Illness Insurance. If you fall seriously ill، this cover will give you a sum of money to help you get through the situation.

• Key Person Insurance. This cover protects you in the event of the death or loss of those employees who are most important to your business.

In addition to coverage that protects individuals, your business may also require the following types of insurance to protect its assets and profits. Keep in mind that businesses that run out of your home may require coverage beyond your home insurance. It’s always a good idea to contact your insurance company to discuss running a business out of your home.

• Property Insurance. This coverage covers any building or property owned by your business if it suffers damage or destruction from fire, earthquakes، avalanches and other such disasters.

• Contents Insurance. If you have a property or building that stores things for your business, such as a warehouse or storefront, this policy covers the loss of those contents. Note that even if you rent out space, you may still need contents insurance as your lease will likely make you responsible for what you put inside the rented space. Home business owners will need to contact their insurance companies to discuss what should be included in their home policy.

• Business Interruption Insurance – When disaster strikes, this policy will cover you for the time that your business cannot operate efficiently.

• Vehicle Insurance – If your company owns vehicles, you are legally required to have coverage. If you use your personal vehicle for your business, be sure to contact your insurance company.

Liability Insurance:

Liability covers you in the event of a mistake or accident for which you may be held responsible. There are three types to consider when owning a business: personal liability, product liability، and professional liability. These cover you from personal liability، something wrong with your products, and from lawsuits filed by your customers, respectively.

Starting your own business is a big risk, but that doesn’t mean you should take unnecessary chances. If you own a business, you need the right coverage.

Be sure to shop around and find the insurance package that’s right for your business. If you have any additional questions, we can help you understand your policies to make sure you have the right types of coverage from the right types of insurance companies.

Although mobile home insurance is similar to home owners insurance، there are some differences that you should keep in mind when shopping for insurance quotes. Here’s what mobile home insurance covers، plus information on how to get a cheap mobile home insurance policy.

Mobile home insurance:

Mobile home insurance covers the following:

1. Your mobile home

Mobile home insurance protects your mobile home and other structures you own that are not attached to it. It’s worth replacing or repairing your mobile home after it’s been damaged by fire, storms، vandalism, lightning, explosions, plumbing leaks or other incidents mentioned in your policy.

There are two types of coverage – replacement cost coverage and actual cash value coverage. Replacement cost coverage pays to replace your mobile home after it is destroyed. Actual cash value coverage also pays to replace your home after it’s destroyed, but only for its depreciated value.

Standard policies don’t cover your mobile home in transit, but you can buy travel collision coverage if you expect to move it.

2. Your personal property

Mobile home insurance protects your personal property، clothing، appliances، furniture، electronics، tools, sports equipment، etc. It is worth replacing them after they have been damaged by the hazards mentioned above

3. Your assets

Mobile home insurance protects your assets. It pays for another person’s medical expenses when you or your family accidentally injure them, and property damage expenses when you or your family damage their property. It also pays your court costs and legal fees.

Cheap mobile home insurance

To get the best price for mobile home insurance, you should get quotes from a number of different insurance companies. The easiest way to do this is to go to an insurance site where you can get quotes from multiple companies. All you do is fill out a simple questionnaire and wait for your quotes.

The best online insurance comparison sites only work with A-rated companies, so you don’t have to worry about not getting paid for a claim.

The best of these sites offer money-saving articles and feature an online chat service so you can get your questions answered by insurance experts (see link below.)

Most of us are good citizens and buy liability insurance to cover us in case we cause an accident. Some people buy minimum liability coverage and some buy more.

When you buy this insurance, you do so not only to comply with the law, but to protect you and your assets in the event that you cause a car، motorcycle or other motor vehicle accident.

Now let’s say you get into an accident that is your fault; you report the accident to your insurance company، do you think your insurance company will cover you according to your insurance policy or not? ERROR!

If you read the fine print on your insurance policy، you will notice a bunch of language that most non-lawyers would not understand. The gist of the language in plain English is that by accepting the insurance policy, you agree to cooperate with the insurance company if they decide to dispute، and the insurance company is the one who decides whether a case will be settled، not you.

Insurance companies are all about making a lot of money and paying as little as possible. Since the advent of legally mandated insurance coverage “Proposition 213 in California” insurance companies have become much stronger because their coffers are full of your money.

Instead of settling meritorious claims، they are forcing claims to settle in court in an attempt to stop personal injury attorneys from getting a fair recovery for their clients.

They know full well that personal injury lawyers don’t have as much money to argue as they do، so their ploy is to drive away personal injury lawyers and ultimately make it harder for people who are injured in accidents to get a recovery. In the end, the consumer and accident victims get hurt, while big business makes more money at your expense.

Even people who cause accidents and have adequate liability insurance to cover the damage are being victimized by insurance companies.

Insurance companies are experts at fraud. With your money, insurance companies contribute money to politicians and run media ads blaming personal injury lawyers for driving up insurance rates. What they don’t say is that the stalemate in Court is due to insurance companies not settling claims properly in the first place.

Now let’s go back to the example of causing an accident. If the insurance company is unreasonable and refuses to settle a case at or below the policy limits، then you will be dragged through the legal system. You may have to respond to discovery, appear for depositions, and even take time to go to trial. This is a long and arduous process that you never thought you would have to go through when purchasing liability insurance. Surprise!

If you lose at trial، the insurance company will in most cases pay the judgment، but guess what; YOU WILL HAVE A JUDGMENT AGAINST YOU ON YOUR CREDIT REPORT، and in the Court File! Thanks to your insurance company, your credit just went down through your fault.

Is this right? I submit to you that it is not so. You have paid the insurance; the insurance company could have settled the case for you within the limits of your policy، instead، they decided to counter in an effort to minimize what they have to pay so that their profits remain high. They did this without considering your credit report, or having your name appear in the public registry as a judgment against you.

Many insurance companies have in-house lawyers; some use outside lawyers. These lawyers are supposed to have a duty to do what is in your best interest. The reality is that they do what is in the best interest of the insurance company. This is the ultimate conflict of interest. Ethically, the attorney the insurance company uses to represent you has a duty to you, not the insurance company. The reality is that the attorney gets his marching orders from the insurance companies.

A worst-case example is the recent disaster of Hurricane Katrina. Have you read about all the poor people who are going broke because they are not being covered by their insurance companies for the insurance they paid for?

It’s time for America and consumers to wake up and smell the roses. It’s not the lawyers who are the problem; its big business that wants to screw the little guy so they can get more profit at your expense. Some have made this a political issue. I’ve even heard President Bush talk about criminal reform and blame trial lawyers for the nation’s health care problems.

Whenever you condemn the reform, remember one thing; you are about to get drunk! Whenever your right to recover damages in a court of law is violated، you will be the victim, while big business is robbed in the mula!.

At the time when it is the ideal opportunity to top up your car insurance، many things are going through your mind، such as whether you should stay and restore it from a similar Insurer or compare car insurance designs of different companies and check if you can show signs of improvement.

In fact، it won’t hurt if you look around a bit and welcome statements from different companies. The opposite can be to support you as you can predict the Premium from your current safety net provider by demonstrating the statements received from the market، in case you decide to stay with that company. Then again it may enable you to switch to a superior deal of an alternative company.

Essentially; don’t reset your policy before you contrast. Investigate your options; there is no requirement to continue with a similar backup plan unless you have some add on in your policy that states that the benefit can only be availed if you stay with your current safety net provider. Currently، how about we understand what premise you should compare car insurance models

1. Compare for premium:

One of the most obvious reasons to compare insurance models is to get a good deal with the cheapest premium available in the market. Compare online at insurance aggregator sites to unleash unbiased cost correlation in a solitary area of ​​the internet. Along these lines، in an extremely improved way you can get different car insurance statements to compare in a solitary place.

2. Most important IDV:

Especially if a top-line car show happens, owners should get the highest IDV (declared protected rating). IDV is the most important assessment that can be recovered from the insurance company in the event of a general disaster. The moment your car is expensive, you should go to the company that offers the most important IDV.

3. Fewer IDVs:

Like most of the popular IDV companies have a lower IDV level as well. When your car is old and price saving is your main goal, then look for backup plans that agree to insure your car on basic IDV. While the increase in premium with submission to the IDV، you should compare predicts the premise of the smallest IDV that a company will guarantee your car when looking for insurance for an old or modest car.

4. Maximum facility without cash/cards:

Like the Health Insurance segment, the Cashless Claims facility is gaining momentum in the car insurance space. Warrantors pride themselves on the quality of their links to various motor ports where you can send your car in for repairs and not pay directly. When you look based on the quality assurance arrangement that carports near your region create a part of their system. It is of no use to you if their car system ports are located at remote points.

5. Free extras:

Some companies bundle some free extras to improve the quality of their car insurance policies. Careful statistical survey will tell you about the companies that offer such plans. For reference, try the accompanying chart to understand the add-ons accessible on the car insurance showcase in India.

6. Maximum Allowances:

Not all car insurance companies provide all the extras shown in the summary above. Go to the companies that are offering you your required extras and at reasonable rates. Compare post-merger premiums with add-ons to understand how much extra you end up paying and weigh the added cost against the anticipated benefits to be derived from such add ons.

What is home insurance, exactly? A typical policy will cover repairs or even rebuilding your home if it is damaged by common perils such as fire, lightning، vandalism، etc. If you live near a body of water، you can also get flood coverage. Most home insurance companies will offer coverage that pays for medical and legal expenses if someone other than you or a family member is injured in your yard or home.

Some interior items are covered, such as your furniture، appliances، walls and windows, but items such as artwork، jewelery and other collectibles are not at least on a blanket policy. Typically, you will need to seek separate coverage for such items. If you have an expensive collection of art، antiques، jewelry، etc. that you want coverage for, check and see how each homeowner’s insurance company covers it when you compare quotes.

Another thing to consider is the cost of local hotel fees, or the cost associated with having to live with relatives if your home becomes uninhabitable for a period of time for whatever reason. Maybe it’s being repaired or even rebuilt.

Would it be worth having coverage on your policy that will help you with additional living expenses if you have to stay elsewhere? Or you have relatives or a safe place to stay nearby and you are sure that these expenses will not be too much.

The importance of home insurance companies location:

Location obviously plays a big role in how much home insurance companies will charge you for your payments. It will be a big factor, whether you like it or not، if you live in an area vulnerable to many natural disasters.

However، that doesn’t mean you won’t be able to handle it. You may be able to get discounts if your property has some weatherproof features. Even setting up a sprinkler system and alarm system will help you save a lot.

What does your bank or mortgage lender require? You may only be required to have enough coverage to pay off the mortgage، and not necessarily to repair or replace the home.

If you’ve already paid off the mortgage، then factor in the cost of newer materials if your home needs to be rebuilt. Don’t think about how much the property is worth now, think about how much it will cost to rebuild each room as well as the entire house. If it’s an older home anyway, then would it be better to have basic coverage and take the risk?

These are all questions you should ask when researching home insurance companies. The best place to start now is with Lemonade Home Insurance. This company offers a unique، affordable approach to insurance and works with all major lenders. You can easily get a quote in seconds.

You may wonder why you need an umbrella insurance policy when you already have insurance for your home and car، but as your income and assets grow، you require more protection for them. Umbrella insurance is a form of coverage that supplements all other policies. The main objective of this policy is to protect your personal assets from any unforeseen event، including a tragic accident caused by you.

Umbrella insurance is considered one of the best ways to cover liabilities that can be extremely large and exceed the limits of the basic policy.

Coverage by Umbrella Insurance Policy:

An umbrella policy provides additional excess liability over and above the expectations of your underlying policy. By excess liability، we mean coverage from one to five million dollars can be provided by the insurance company. Excess liability provides compensation for the following.

The cost of legal defense for a covered loss such as attorney’s fees and related court costs.

Additional protection for your primary auto policy and vehicle-related liabilities

Personal liability indemnity for your indoor or outdoor premises.

Worldwide coverage for foreign car use، no matter where you go.

Indemnification against non-business related personal injury liabilities including defamation, defamation, false arrest or wrongful eviction.

Cover for claims by others relating to personal injury، property damage، your family members or hazards to your property.

The cost of coverage of an umbrella policy:

Coverage for an umbrella policy generally starts at $155 to $205 for a $1.1 million policy. Your coverage depends on the premium amount. The premium amount increases if you decide to increase your coverage. But increasing the policy limit to $2.1 million and getting double the coverage amount will not double your premium cost.

Importance of umbrella policy:

Your home، car، retirement accounts، investments، as well as your regular savings and checking accounts along with your future income are considered valuable assets.

If you are sued for a large sum of money and do not have sufficient liability insurance or an umbrella policy for compensation، then all of your assets will be exposed.

For this reason, you should consider purchasing an umbrella insurance policy as it helps you prevent the possibility of financial damage due to an unforeseen accident or a single misstep.

Where can I get a policy?

You can buy umbrella insurance coverage from various insurance companies and agents around you. But one of the best ways to get umbrella coverage is through an independent and trusted agent or broker.