Do I Need a Personal Umbrella Policy?
Do I need an Personal Umbrella Policy?
Art Glasgow, Peck-Glasgow Insurance
During August 2010, I wrote and article titled,
Do You Need a Personal Umbrella? It was a nice little article that pointed out the coverage and benefits of a personal umbrella policy and how it could benefit almost anyone to have this valuable coverage.
Well I do own a personal umbrella umbrella policy and have for many years. As a former adjuster and long time insurance agent, I have seen first hand the need for a personal umbrella policy. I have seen
friends and clients experience horrific automobile accidents, and the after math of lawsuits. One thing I have observed, ….. never once have I had a client complain to me after a claim they had too much coverage! The last thing that I want a client to
worry about is inadequate coverage.
It is easy to say that I am a careful driver, or I keep a clean home and lot. It is easy to say it will never happen to me. But I can say first hand…. accidents do happen. People get hurt and property
is damaged. You need a personal umbrella, just like I do. Life happens, and some of life’s events are not good. Protect yourself.
In fact I am experiencing a new need for a personal umbrella policy. I have a young driver at home. My oldest daughter is turning 16 within the month, and will be getting a drivers license. This is
an exciting time for her, and our family, but it also is a cause for concern. Youthful drivers lack experience. You can only get that experience by driving in different situations. The need for a personal umbrella policy increases. According to the National
Safety Council’s website, young drivers represent only 13 percent of all licensed drivers but cause 28 percent of all traffic crashes and 24 percent of all fatal accidents.
Protect yourself with the purchase of a personal umbrella. This is an inexpensive form of protection. In fact you will spend less on a personal umbrella policy that you spend on tickets to athletic events,
coffee in the mornings, or a local newspaper subscription. For more information speak with your professional insurance agent.