☰ ˟
Logo
We're Here to Help (732) 259-7816 Email Us!
  • Home
  • Get A Quote
  • Customer Service
  • Coverage we offer!
    • Auto
    • Home
    • Business
    • Professional Liability
    • Flood
    • Contractors
    • Bonds
    • Renters
    • Umbrella
    • Cyber Liability Insurance
    • Dental
    • Malpractice
    • Workers Compensation
    • Snow Plow General Liability
  • Make A Payment
    • Speakman Agency Bill Payments only
    • Direct Payments to Insurance Companies
  • Blog
  • Resources
    • Refer a Friend
    • Our Carriers
    • Insurance Glossary
    • Free Reports
    • Frequently Asked Questions
    • Partners Page
  • About Us
    • About Speakman Agency, LLC
    • Location Map
    • Customer Testimonials
    • Privacy Policy
  • Contact
Home > Blog > What does your Umbrella cover?
SUNDAY, MARCH 4, 2018

What does your Umbrella cover?

 

The Speakman Agency has partnered with personalumbrella.com. This partnership has afforded Speakman Agency to make available Personal Umbrella coverage which has the option to include Excess Uninsured Motorists coverage. This is pertinent to protecting people from financial burdens.

 

Snow safely.

There are 151,944 crashes each year because of slick and dangerous icy roads. Getting ready for the hazards of winter driving is key, but you can also give yourself an extra layer of protection with a personal umbrella policy with something called "excess Uninsured and Underinsured Motorist Coverage" or excess UM/UIM.

It works like this: When there's an accident and the other driver is at fault and doesn't have enough insurance to take care of the damage, you're responsible for any outstanding expenses left after their policy (and yours) pays out.

Excess UM/UIM kicks-in to cover this "gap" in insurance and takes care of things like bodily injury, lost wages, pain, and suffering and emotional distress — for you and any passengers, wherever you are in a car or even out walking.

Here's how it helped one couple.

REAL WORLD STORY: How Excess UM/UIM Saved the (Snow) Day

Margaret and Henry were walking their dog, Clyde, along the road on a rare snowy day. As they came around a curve, they were struck by Julia, who lost control of her car because the road was unexpectedly icy.

In the accident, Henry's legs were broken and Margaret suffered a broken wrist and a head injury requiring hospitalization followed by a year of therapeutic outpatient rehabilitation services with specially-trained staff. She was not able to work during her recovery. (Clyde wasn't hurt.)

Julia was carrying the minimum coverage allowed by her state, which was rapidly exhausted because of the high cost of the couple's medical bills. 

After the couple's underlying auto UM/UIM was exhausted, their standalone personal umbrella policy with $1MM excess UM/UIM, covered their medical bills, loss of wages and pain and suffering.

Claim: $425,000

What’s a personal umbrella policy?

Just like the kind of umbrella you hold when it rains, this policy protects you when a downpour happens by going above and beyond your homeowners/renters and auto policies.


Get a quote fast

We can send you a quote in minutes. And one annual personal umbrella policy premium payment can be less than one billable hour of an attorney’s fee!

Umbrellas are for everyone

You don’t need to own a home, be married, have kids or have a certain amount of assets. An accident can wreak havoc on your finances in no time — and this policy can help save you.

 

 

 

Sources: National Highway Traffic Safety Administration, Insurance Research Council. UM/UIM premium is based on number of cars and drivers in the household. Figure based on nationwide average premium of a $1MM personal umbrella policy for 2 homes, 1 car, 1 driver. Premium billed annually. Names and identifying details in claims examples have been changed to protect the privacy of individuals. This information is for educational purposes only and does not constitute legal advice or guarantee or imply a similar outcome. Underwriting criteria varies by state. Visit us online for guidelines. California Insurance License 0D08438

Posted 11:19 PM

Tags: personal umbrella, umbrella, excess insurance, um, uim, car accident, homeowners, personal auto
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016

  • umbrella insurance(2)
  • homeowners(2)
  • weather(1)
  • car accident(1)
  • workers compensation(1)
  • auto insurance(1)
  • uninsured motorists(1)
  • contractors insurance nj(1)
  • inclusion(1)
  • nj snow plow(1)
  • hurricaneinsurance(1)
  • excess insurance(1)
  • personal umbrella(1)
  • cheap snow plow insurance(1)
  • general liability insurance(1)
  • selective insurance co(1)
  • personal auto(1)
  • um(1)
  • holiday season(1)
  • middlesex county(1)
  • snow insurance(1)
  • east coast(1)
  • halloween(1)
  • snow plow(1)
  • snow insurance nj(1)
  • umbrella(1)
  • insure nj contractors(1)
  • insurance for snow(1)
  • insurance(1)
  • veterans day(1)
  • wind(1)
  • hurricane(1)
  • diversity(1)
  • new jersey(1)
  • home insurance(1)
  • uim(1)
  • independentinsuranceagent(1)
  • claims(1)
  • contractor insurance(1)
  • insurance for contractors(1)
  • uninsured motorist coverage(1)
  • business insurance(1)
  • underinsured motorists insurance(1)
  • general contractor insurance nj(1)
  • nj snow plow insurance cost snow shoveling insurance(1)
  • windstorminsurance(1)
  • snow removal insurance(1)
  • does my business need workers compensation(1)

View Mobile Version
Carrier Carrier Carrier Carrier Carrier Carrier Carrier
Logo
PO Box 484
Iselin, NJ 08830

(732) 259-7816
Social Social Social Social
Home Page| Our Team| Join Our Mailing List| Refer A Friend| Insurance Glossary| FAQs| Search Our Site
© Copyright. All rights reserved. Powered by Insurance Website Builder