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BCG clients enjoy the Premier Advantage of having more than 170 experts in a wide variety of valued services for businesses and individuals at their finger tips. This includes access to the best prices and the best insurance companies for your personal needs.
What is Umbrella Insurance?
Umbrella liability insurance is just that: an umbrella of protection that is up and above your automobile and homeowners liability insurance. Umbrella insurance is very affordable and is arguably the most valuable insurance you can buy. Here’s why:
Can You Afford Not To Have Umbrella Insurance?
In today’s increasingly litigious society, it’s almost commonplace for someone to sue another for the smallest of transgressions. Jury awards of $20 million or more are no longer unusual.
Most people think that their homeowners insurance will protect them but nothing could be farther from the truth! Imagine this tragic and very real scenario:
The total value of all your assets comes to about $500,000. You have $250,000 of auto liability insurance, the typical amount carried by most people, and feel pretty confident that a quarter of a million dollars will be more than enough. You then have an accident and you’re sued for $1 million. Your insurance pays $250,000 and you are liable for the remaining $750,000. Since you’re worth $500,000, even if you sold everything you own (and you might have to) you would still owe $250,000. This could mean that you’d be flat broke, homeless and that your wages would be garnished for years to come. Even any inheritance you might get would be used to satisfy the judgement.Think it can’t happen to you? A quick Internet search will show you that it is happening on a regular basis—and it’s completely avoidable when you secure the proper amount of affordable umbrella insurance.
Umbrella Insurance Quote
Through our affiliate, Bailey, Haskell & LaLonde Insurance (BHL), you have access to one of the leading independent insurance agencies. They’re free to shop hard for the best rates and the strongest umbrella insurance available. Consider purchasing an umbrella insurance policy with $1 million to $5 million in coverage. The cost is minimal when you have your auto and homeowners insurance with BHL and it could quite literally save you from financial ruin.
This is a general description of the available coverages and is not a statement of contract. All coverages are subject to policy provisions and applicable endorsements. For more information about recreational vehicle insurance speak to a BHL agent.
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