Imagine what would happen if your dog was to bite a neighbor or if there was an accident on your rental property. What would happen if a fire in your Chicago condo spread to other units? If any of these things happened to you there’s a good chance your current liability limits wouldn’t be adequate to protect your assets or your future earnings.
They Will Want More Because You Have More. Protect Yourself With An Umbrella Insurance Policy.
A personal umbrella insurance policy is designed to provide you the extra layer of protection above the limits you have on your other insurance policies, like your Auto Insurance, Home Insurance (including Condo Insurance and Renter’s Insurance) and Boat Insurance.
In today’s world, the news is filled with more and more stories about accidents, lawsuits and liability questions. We are human and the mistakes we make sometimes have severe consequences, consequences that can reach millions of dollars in liability. There are multiple ways you can be held liable and be in a position to pay damages. Take some of these cases, for example:
- You cause a serious multiple vehicle crash. Multiple people have injuries and the property damage is extensive. You are then sued for medical bills and car repair.
- You have a party at your house and someone falls down your steps and is injured. That person is hospitalized and out of work for a month or more.
- While you adjust the radio, you rear end a cargo van carrying $500,000 worth of electrical equipment, all of which is destroyed in the crash.
- Your teenager is driving a friend’s car and crashes, injuring the other passengers.
- You’re accused of verbally assaulting someone and they sue for emotional duress.
In any of these cases, if an injured party sues you for damages, the result may be a liability claim against your home or auto insurance policy. If you have an umbrella insurance policy in place, it will kick in and pay the excess liability costs when your primary policy’s coverage is exhausted. In addition to covering the cost of a judgment against you, your umbrella policy may also help to cover the costs of your legal defense.
What’s Really At Stake?
Your family and your daily activities result in lawsuit exposures every day. You should consider an umbrella insurance policy if:
- Your assets are greater than your liability limits
- You are financially responsible for children
- You have guests at your property often
- You have a swimming pool on your property
- You own a boat, jet ski, or ATV
- You own a rental property or vacation property
- You volunteer often
Think about working for the rest of your life and having 30% of your paycheck taken away to pay for a judgement because you didn’t have the proper umbrella insurance in place; it would have only cost $175 to $250 a year for a one million dollar personal umbrella policy.
Frimark/Keller & Associates is here to help
How much insurance is enough? The answer is different for everyone. It depends on what you want to protect and how much risk you are willing to assume. The goal with an Illinois umbrella policy is to put as much of an insurance “buffer” between a serious accident and your hard-earned savings as possible.
The insurance professionals at Frimark/Keller & Associates in Schaumburg, Illinois will be happy to work with you to make sure that your protection plan is customized to meet your specific needs. Frimark/Keller & Associates have been protecting people since 1910 with personal umbrella coverage.
Complete the above Free Personal Umbrella Quote Form today for a free, no obligation quote. Or give us a call at 847-907-4520. Don’t spend another sleepless night riddled with anxiety about losing all you have. Take out an umbrella policy today!