Unofficially Celebrating National Umbrella Insurance Day 2013

national umbrella insurance daySunday February 10th is National Umbrella Day.

Being that we are a local independent insurance agency, trying to make insurance as fun and as interesting as possible, how could we not put an insurance spin on holiday and unofficially change the name to National Umbrella Insurance Day?!

Well unofficially we can do just about anything we want, so why not have a little fun and celebrate this brand new made up holiday…

National Umbrella Insurance Day

The unofficial purpose of National Umbrella Insurance Day is to spread awareness for one of the most important, least expensive yet universally overlooked insurance policies available to you both in your personal life and in protecting your business.

Personal Umbrella Insurance

Personal umbrella insurance is a type of insurance policy though commonly associate with, completely separate from your auto and homeowners insurance.  Personal umbrella insurance provides additional coverage over the underlying liability limits of your auto insurance and your home insurance as well as other policies such as motorcycle insurance and boat insurance to name a few.

Your personal umbrella insurance also covers some uninsured exposures, such as “personal injury.”

You don’t have to be a professional or have above-average income or assets to protect or unusual liability exposures, to purchase a personal umbrella insurance policy.

As I always say, “You don’t have to be rich, to be sued like a rich person…”

Business Umbrella Insurance

Business umbrella insurance provides an additional layer of liability coverage that supplements the limits of an your general liability, automobile liability and employers liability (found on the workers comp policy) policies.

Business umbrella insurance also protect you from exclusions and gaps in their primary commercial general liability insurance.

The business umbrella insurance policy coverage is triggered when the limits of the underlying liability insurance are exhausted or when a claim not covered by an underlying policy occurs.

Any such loss that qualifies for coverage under the business umbrella insurance policy is subject to the insured first paying any applicable SIR (similar but the not the same as a deductible).

The Insurance Take-Away

Whether you’re looking to protect yourself, your family or your business, adding umbrella insurance is very important.

Oh and remember how I told you that umbrella insurance is very inexpensive?

For personal umbrella insurance, most people pay less than $200 a year for a $1,000,000 in coverage.  Premiums are always subject to your unique underwriting but it’s still a lot of coverage for NOT a lot of money.

If you like to add a personal or business umbrella insurance policy to your insurance program please give us a call at (518) 456-6688 or you can click here to start by email.

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