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The world we live in today our lives constantly intersect with people around us and some interactions can have surprising consequences. It is important to make careful insurance choices to protect yourself from the unexpected. Even if you carry high limit coverages, situations can still arise that leave you liable for costly damages exceeding what any single policy can cover.

This is where umbrella insurance comes in. An umbrella policy sits over other policies, such as auto, home, boat, etc. It provides liability coverage if the underlying policy maxes out during a claim. Here are a few cases when an umbrella is essential.

1. Passenger Injuries. If an accident occurs and passengers are seriously injured, medical expenses can add up quickly. Potentially totaling more than what an auto policy would cover. If you exceed your limits expenses may have to be covered by the driver.

2. Social Media. The internet and social media today is around us everywhere we go. Conversations in private can go public by one click of a button. Picture a teenager getting angry at a teacher and venting it online. Depending on what was said, the teacher may decide to sue the student’s family for personal injury to her reputation. Certain cases like these paid more than half a million. If your limits do not cover an umbrella would cover the rest.

3. Dog Bites. Great owners train and socialize their pets. But sometimes things happen and a dog acts out for any numerous reasons. If a pet badly injuries a neighbor, bills can add up. Most home owner policies cut off at 300,000-500,000 in coverage leaving the rest up to the owner.

4. Faulty Furnace. Being a landlord could be complicated at times and can lead to possible claims. For example, a furnace can malfunction, a tenant could due for brain damage caused by carbon monoxide poisoning. It’s always good to have a safety net in case of a major liability claim.

While most people don’t stop to think about everything that can go wrong, here at Quantum we provide risk management to assist you. The scenarios above sound terrible, but they can be a lot worst if the right coverage is not in place.   


Posted 11:02 AM  View Comments

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