 Another life insurance question, what should I get? |
| I'm a single 44 year old female with a 20 year old daughter who lives at home and attends college. I'm employed full time and have the life insurance offered at work. The insurance at ... |
|
 What is disability insurance? should i buy it? |
| a guy came to our company today and talked about disability insurance, but i'm in good health and athletic. should i have it?... |
|
 Cheap car insurance.? |
Just insured my olde 2.3 go faster Volvo - for £145 with RAC, group 16 though mind but, fully comp, £100 excess.
I'd been on RAC web-site, and others, but Elephant was my best ... |
|
 Is it true that insurance companies will cut you off if you are not a full time student taking 12 units? |
| my mom is telling me this but i feel as if its a lie...I'm 17 will be 18 next month and supposedly once i turn 18 the insurance company will ask for my classes to see if I'm taking 12 units.... |
|
 How do I find out the previous owner of my houses insurance claims? |
| I know there has to be a way, I know you can do it with cars and tell if they were in accidents so I would assume there has to be some way. Please help. Thanks for taking the time :)... |
|
 AIG is not good insurance? |
| my vehicle was stolen a little over a month ago and was recovered, aig said they would have to investigate....well they sent out a investigator to speak to me now they want me to talk to their ... |
|
 I am looking for buildings insurance for a house I am buying.? |
| I am concerned about the question that says if I have made any claims in the past 5 years. I have had insurance for houses since 1968,and only claimed once in the 70s,when a chemical factory blew up. ... |
|
 After insurance payed on hospital stay.the hospital wont us to pay over 500. a month.can they make you pay .? |
| my husband went into hospital. his bill was over 82 thousand. the insurance payed an the hospital said we had to pay $581.00 a month for 2yrs.we told them we had other doctors bill to pay too. can ... |
|
| I don't understand health insurance hmo or ppo.? |
| Ok right now I do not have health insurance but my husband does. we just found out that I'm pregnant about 5 weeks, so I need to find health care quick. I DO NOT want to be a welfare mom and ... |
|
 Health insurance... need some? |
| Hi. I'm a 27 year old white female who lives in Virginia. I need some kind of health insurance but I am VERY VERY Low income. I only get about 600$ a month total, but have no rent fees or ... |
|
 I am looking for a place online to research and buy life and health direct insurance for me and the family? |
| Anyone aware of a site for this? Is it a good idea. I know life and health are complicated but I think agents make it confusing sometimes...... |
|
 Can i cash in my dads check w/ his name on the check??? |
| im already 18(if that has to do w/ anything) and am his son. so, can i cash in my dads check? will it just work to show a proof of ID? the check is around $200. i dont wanna look stupid.... |
|
 I'm not sure what kind of health insurance to get? |
| Is it usually best to get health insurance from your employer even if you make low wages? I'm covered under Minnesota Care, health insurance plan offered in MN for people who don't make ... |
|
|  |
puru | What does Umbrella insurance really buy for me? |
Already have pretty good coverage on auto (multiple cars), and home (one). Do not own commercial property/business, etc.
Under what scenario does umbrella coverage really kick in, and in the relatively straightforward case such as mine, it is worth it?
Thanks for your advice. |
 |
 
Zarnev
 |
Consider this scenario. You cause an accident which puts someone out of work for the rest of their life and causes very high medical bills. The courts can take everything except one car, basic household furnishings, the value of your house over $150,000 (which means if your house is valued higher you might have to sell), and up to 30% of your wages for the rest of your life.
Do the math. Figure the amount of your assets and estimate 30% of your future earnings. That is what is at risk. Now figure if the premium for an unbrella is worth it. |
|
swood1968
|
Umbrella liability insurance is so named because it acts like an umbrella, sitting on top of your auto and homeowners liability policies to provide extra protection. (Even if you don't own a home, remember that you still need renters insurance to cover both your liability and your personal property). A scenario in which it would come into play would be if you were involved in an auto accident and got sued. Say a jury found you at fault and awarded the other party $1 million. Unfortunately, you only have $500K in auto liability insurance. Here is where your umbrella policy kicks in. Most insurers won't sell you an umbrella unless you purchase underlying limits of at least $250K. It minimizes their exposure. It's a great policy to have. They are usually relatively inexpensive. If you have assets that need to be protected, I'd recommend having one. |
|
J
 |
If you have a decent amount of assets then you could be sued for that amount. e.g. injuries caused by you in an auto accident - you could be sued for hundreds of thousands. Your auto insurance might not cover all of it but the umbrella would most likely do it. It isn't expensive but could protect your assets. |
|
mbrcatz
 |
Well, there is no STANDARD umbrella form, so it's going to vary. But I'll give it a shot.
Say, for example, you have $100,000 of property damage on your auto policy. And you're the last guy in on a 10 car pileup. That $100,000 is NOT going to pay all the damages - an umbrella would pick that up.
Or, you rearend a school bus, and a couple kids are seriously hurt. Same thing.
Or, you volunteer at church - and someone accuses you of molesting a kid there. Homeowners policies normally exclude it, most umbrellas will NOT exclude it.
Or, you cause an accident while driving a golf cart, and the golf course. Neither your auto NOR your homeowners would pay - but most umbrellas would.
As I said, it's a HIGHLY individual form, so you're BEST off asking your agent for some examples. And SOME companies don't do a true umbrella any more - it's an "excess liability" policy. So it's really important to be sure exactly what you're getting. |
|
BSFSU
 |
Umbrella coverage extends your liability coverage to areas where you might otherwise be under-insured. For example, auto insurance is written for standard amounts which will be denoted with something like 25/50/10, referring to to the maximum that the policy will pay for certain claims. Auto insurance is not written above a certain amount, which if memory serves is $250,000. This is where umbrella coverage kicks in, as a bad accident where somebody loses life or limb can get you sued for well above the policy limit. If you have a $2 million umbrella policy, the auto insurance will pay the maximum, then your umbrella policy will pay above and beyond that up to the maximum of the umbrella policy.
Whether or not you need the policy really depends on your income, future earning capacity, and whether you are in line for money (like inheritance). If somebody sues you for $2 million on an accident claim and gets a judgment, your auto insurance will only pay the policy maximum. You are on the hook for the rest and that won't go away. The only way out of the judgment is to go bankrupt (unless the accident is due to alcohol/drug intoxication, in which case there's no way out).
With a judgment hanging over your head, there isn't a way for you to build future wealth. The person with the judgment is entitled to assets which exceed certain (low) limits protected by state law until the judgment is paid. In general, umbrella coverage is a good idea, as it gives a lot of protection for relatively little money. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
4 | 38 minutes(s) ago
| | | |
6 | 2 hour(s) ago
| | | |
6 | 6 hour(s) ago
| | | |
6 | 8 hour(s) ago
| | | |
6 | 10 hour(s) ago
| | | |
6 | 2 day(s) ago
| | | |
6 | 4 day(s) ago
| | | |
6 | 2 week(s) ago
| | | |
6 | 1 month(s) ago
| | | |
4 | 2 month(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
