Happy October!! Fall is in the Air!
It's impossible to predict whether you might lose a lawsuit resulting from a car accident or an accident on your property. Nor is it possible to predict the amount that might be awarded to the winning party, an amount that you would be responsible for paying. To protect yourself against the possibility of devastating financial loss from these unforeseen events, you may want to purchase an umbrella.
You don't have to be wealthy to need an umbrella policy - even if you don't have any assets, your wages can be garnished.
An umbrella policy picks up where your auto and homeowners insurance policies leave off.
Look below to see some samples of actual losses. They will show the consequences of situations that can quickly exhaust the liability limits of the underlying policies. For less than the cost of a cup of coffee a day, most people can purchase a Personal Umbrella Policy with a limit of $1,000,000 possibly $2,000,000 or even $5,000,000
Call us for an Umbrella Quote at (702) 541-0882.
All Risk Insurance Solution, Inc. brokers can get the best quote out there because we represent you.
There are a couple of ways in which you can get insurance. You can get it from a sales representative (aka. exclusive agent) or an independent insurance agent.
A sales representative or exclusive agent is a person who sells products on behalf of a company.
When you call the orange insurance company, their sales representative will help you find a plan that only the orange insurance company sells.
When you call the blue insurance company, their sales representative will help you find a plan that only the blue insurance company sells.
Insurance carrier plan sales representatives are required to meet quotas and may only represent one carrier.
The sales representative may enroll you with their plan, but generally you will speak to customer service if you need assistance.
You may never talk to the sales representative again once they have completed their job, which is to get you enrolled in “their plan.”
When you call Jim and Bonnie Grant, an independent agent who works for you, we will help find you a plan that’s best suited FOR YOU.
We are here to service you all year, every year, not just when we meet to sign you up.
We have no financial bias toward any one company.
As long as your benefits and costs are what you need them to be, we will both be happy!
Jim and Bonnie Grant
223 South Water Street, Suite B, Henderson, NV 89015 Call us for a qutoe at (702) 541-0882
A babysitter left a 5 month old infant unattended in a walker. The infant toppled the walker, struck her head on the floor and suffered brain damage. The parents of the infant sued the teenage babysitter and her parents. The court awarded the infant’s parents $11,000,000.
An insured’s daughter hated math class as well as the teacher. The daughter made several “disparaging” and false remarks about her teacher online. The teacher sued the parents for personal injury and $750,000 was paid.
A 28-year old engineer dove into a friend’s above ground swimming pool struck his head on the bottom and, as a result became a quadriplegic. He sued both the homeowner and the pool manufacturer. The court found the homeowner to be 60 percent responsible and the pool manufacturer to be 40 percent responsible, and awarded $10,000,000
The insured’s 18 year old son was driving the insured’s car on a short trip to the store with his girlfriend. He lost control of the car and struck a tree. The insured’s son told the police that a vehicle cut him off, but there were no witnesses and no evidence of any impact with another car. His girlfriend, a 19 year old college student, was hospitalized for over a month with multiple fractures and internal injuries. She was in a wheelchair but is now able to walk with crutches and continues with physical therapy. She has a right drop foot as a result of the injuries. The insured’s personal umbrella policy limit was paid.
A couple hosted a party for their teenage children. They did not provide any alcohol, but it was brought by some of the guests and was available. After leaving the party, one of the guests was severely injured in an auto accident, and the injury was attributed to his consumption of alcohol. This case went to the Wisconsin Supreme Court which decided that anyone who sells or furnishes alcohol to a minor is responsible for the minor’s injuries as well as any injuries caused by the minor. The opinion of the court was that the homeowners should have prevented the consumption of alcohol by minors on their premises. Both the homeowners and personal umbrella policies responded to this claim.
A hillside on the insured’s property was covered with concrete to prevent erosion. The concrete had been installed before the insured purchased the property. Approximately 5 feet of the concrete fell to the neighboring property knocking the claimant’s home from its foundation. The resulting claim was settled for $970,000.
The insured permitted several of her children and their friends to play paintball in her large back yard. The children were experienced and advised of all the safety rules including the use of headgear at all times. A participant removed her headgear as she was leaving the field in order to better hear someone calling her name. The minor claimant was hit in the eye resulting in a $475,000 settlement
The insured hosted a beach party for their daughter. One of the attendees found what was believed to be an empty and discarded propane tank. The tank was thrown into a beach bonfire and subsequently exploded resulting in severe injuries to several guests. A $20,000,000 claim was filed alleging the insured failed to properly supervise the party.
The insured’s tenant claims she became ill from carbon monoxide poisoning resulting from a faulty furnace. The tenant claimed permanent brain damage and demanded $750,000.
A teenager, who was destined for greatness as a softball player, filed a $700,000 lawsuit against her former coach, alleging his “incorrect” teaching style ruined her chances for an athletic scholarship.
Umbrella insurance is also called “excess” insurance because its coverage is triggered when protection provided by an auto, home, or other underlying policy is exhausted (runs out).
Life is unpredictable, and as much as you plan, there’s always something around the bend that never crossed your worried mind. If the unexpected occurs, do you have enough liability limits to protect your and your family’s assets the way you want? If you were found liable for an accident, would your current liability limits cover the judgment against you, or could your assets be at risk? You'll have additional liability limits over and above those provided by your underlying policies. Your assets, as well as your future earnings, are covered.
Get an Umbrella Insurance Quote by Calling (702) 541-0882
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