Do yourself a favor.....

[4AU4LIFE]

I haven't posted on this site in maybe a year or so. But I feel very compelled to suggest this to anyone that will listen.

Check the coverages you have on your home owners insurance policy. I'm not a insurance salesman or what to sell you anything but want to ask everyone to do themselves and their family a favor and check your policy for limits on everything you have of value.

 

[docjohn]

why have you been on sabatical?...and thanks for the reminder.

 

[REDNA2X]

I haven't posted on this site in maybe a year or so. But I feel very compelled to suggest this to anyone that will listen.

Check the coverages you have on your home owners insurance policy. I'm not a insurance salesman or what to sell you anything but want to ask everyone to do themselves and their family a favor and check your policy for limits on everything you have of value.

I agree with you 100%! Lots of people don't know what type of coverage they have until something goes wrong, and come to find out that they aren't covered for certain things! I was an insurance adjuster during hurricane Irene and had to break the bad news to lot of families. Sad to see people lose everything, so find out what your insurance guy is selling you!

 

[jond]

Umbrella insurance that sits on top of all your policies is pretty cheap.

 

[sahtt]

I haven't posted on this site in maybe a year or so. But I feel very compelled to suggest this to anyone that will listen.

Check the coverages you have on your home owners insurance policy. I'm not a insurance salesman or what to sell you anything but want to ask everyone to do themselves and their family a favor and check your policy for limits on everything you have of value.

Check all your policies every year or two. I wasn't going to post about it but I had a hell of a "test" of mine recently. Was in the ICU with a skull fracture and then some in January and was on disability up until yesterday when I finally went back to work. Major test of my health and disability coverage. Even with both of those in good shape it still would have been really tough on someone without decent financial resources. 60% pay (paid later than usual) and many k in medical bills.

To top it off, I sold my daily and the new owner wrecked it 3 days later while I was still on disability! Title was still in my name of course so her insurance company came after me like a bat out of hell. Fortunately GEICO, my insurer, handled it very professionally but it taught me a lesson - keep making copies of everything, make sure everything is filled out perfectly (especially dates), and REMOVE the car from your insurance IMMEDIATELY after selling it. If you have over lapping coverage they will try to eat you alive and you'll have to prove 3 ways to Sunday it was sold and 100% in their possession.

 

[heySkippy]

Umbrella insurance that sits on top of all your policies is pretty cheap.

It extends liability coverages, not property.

 

[Arshad]

Check all your policies every year or two. I wasn't going to post about it but I had a hell of a "test" of mine recently. Was in the ICU with a skull fracture and then some in January and was on disability up until yesterday when I finally went back to work. Major test of my health and disability coverage. Even with both of those in good shape it still would have been really tough on someone without decent financial resources. 60% pay (paid later than usual) and many k in medical bills.

To top it off, I sold my daily and the new owner wrecked it 3 days later while I was still on disability! Title was still in my name of course so her insurance company came after me like a bat out of hell. Fortunately GEICO, my insurer, handled it very professionally but it taught me a lesson - keep making copies of everything, make sure everything is filled out perfectly (especially dates), and REMOVE the car from your insurance IMMEDIATELY after selling it. If you have over lapping coverage they will try to eat you alive and you'll have to prove 3 ways to Sunday it was sold and 100% in their possession.

Holy cow, that's crazy!

I hope you're all right and doing a lot better now...

 

[itrsteve]

I agree with you 100%! Lots of people don't know what type of coverage they have until something goes wrong, and come to find out that they aren't covered for certain things! I was an insurance adjuster during hurricane Irene and had to break the bad news to lot of families. Sad to see people lose everything, so find out what your insurance guy is selling you!

True, I also do the floater policy for all firearms, jewelery and camera equipment, everything besides nuclear holocaust is covered.

 

[Ric]

How and where do you buy umbrella insurance coverage?

 

[heySkippy]

How and where do you buy umbrella insurance coverage?

From either your homeowner's insurance company or possibly your auto insurance carrier. Ours is from GEICO.

 

[jonas1jp]

How and where do you buy umbrella insurance coverage?

Ours is through State Farm. Upped the coverage due to the inground pool. I could just imagine some idiot breaking through our fence, drowning, and his/her family suing us for an unsafe backyard. Just seems how it goes these days, but they won't get us. We're insured for much more than we'd ever need, but at least I don't have to worry about it now.

 

[heySkippy]

Ours is through State Farm. Upped the coverage due to the inground pool. I could just imagine some idiot breaking through our fence, drowning, and his/her family suing us for an unsafe backyard. Just seems how it goes these days, but they won't get us. We're insured for much more than we'd ever need, but at least I don't have to worry about it now.

Our pool is exactly why I wanted the Umbrella policy, although I'm more worried about drunken foolishness at a pool party than I am strangers breaking in.

 

[kookoo4nsx]

There are two types of insurance, to protect your "things" and to protect liability.

If you have a high net worth, by all means, protect yourself from liability. If you have almost no net worth a lawyer will find no reason to sue you if your car insurance
for example only has a 10k liability limit. Lawyers love people with heaps of insurance and umbrella policies. FWIW.

 

[4AU4LIFE]

Ours is through State Farm. Upped the coverage due to the inground pool. I could just imagine some idiot breaking through our fence, drowning, and his/her family suing us for an unsafe backyard. Just seems how it goes these days, but they won't get us. We're insured for much more than we'd ever need, but at least I don't have to worry about it now.

Exactly

 

[steveny]

There are two types of insurance, to protect your "things" and to protect liability.

If you have a high net worth, by all means, protect yourself from liability. If you have almost no net worth a lawyer will find no reason to sue you if your car insurance
for example only has a 10k liability limit. Lawyers love people with heaps of insurance and umbrella policies. FWIW.

Yeah and if you have 50k in coverage but do 90k in damage hitting one of my houses I can spend six months trying to get the other 40k to repair what was done, ask me how I know. But it gets worse because on the exact same day a woman hit one of my houses doing 40k more in damage then she was insured for another woman rear ended my wife's car doing 20k in damage but the woman was only insured for 10k. So what happens.... My insurance company pays For someone else's deeds.

 

[drtruong]

There are two types of insurance, to protect your "things" and to protect liability.

If you have a high net worth, by all means, protect yourself from liability. If you have almost no net worth a lawyer will find no reason to sue you if your car insurance
for example only has a 10k liability limit. Lawyers love people with heaps of insurance and umbrella policies. FWIW.

This is why you want to hide your net worth by filing family trust under different name. And if you have teenager driver, please do yourself a favor by insuring them separately.