| Umbrella insurance protection is usually one of the | | | | your auto policy, then what? Do you sell your |
| last insurance products a consumer buys. I | | | | home? Have 25% of your wages garnished for |
| understand the reasoning. A family budget is | | | | the next 15 years? Cash out a 401k, IRA or |
| stretched thin and we often feel "insurance poor". | | | | something else? |
| But what happens if you or a family member | | | | When you buy an umbrella insurance policy keep |
| (such as a teen driver) is involved in an auto | | | | in mind that you are protecting your assets and |
| crash that injures others? Do you have high | | | | income. |
| bodiliy injury limits under your auto insurance | | | | Be especially careful when you have teen drivers |
| policy? What if the other person is disabled or | | | | on your auto policy. Teenagers have more |
| killed? If you calculate a person's worth on that | | | | accidents than all the other age groups combined. |
| basis, I bet 99% of insurance buying consumers | | | | Consider increasing your deductibles on your auto |
| have too little protection under their auto policy. | | | | insurance policy and home insurance policy. |
| An umbrella policy goes hand in hand with an auto | | | | Consider if you have an auto insurance policy or |
| insurance policy and home insurance policy and | | | | home insurance policy with a $500 deductible and |
| costs about $350 or less annually for $1,000,000 | | | | you have a $750 claim. Are you going to file a |
| protection. This premium varies bases on other | | | | claim for the $250 difference or pay the entire |
| factors (if you own rental properties, have | | | | $750 out of pocket to keep the claim off your |
| recreational vehicles, teen driver's). | | | | record? Many people will pay it out of pocket. If |
| If you have too little bodily injury protection under | | | | this is you, consider increasing your deductibles. |