»Article posted on: December 17, 2009 by: Amy Danise
‘Tis the season for umbrella insurance
If any insurance could possibly be regarded as “holiday” insurance, it’s umbrella coverage. Umbrella coverage provides an extra layer of liability protection on top of the liability limits within your auto and home insurance policies.
If you entertain at your home during the holidays, this is a wise investment. Holiday parties open the door to accidents, whether it’s an injury inside your house or someone slipping on your icy sidewalk. If you’re sued for injuries, your home insurance kicks in, and we all know how expensive hospital bills can be. Umbrella coverage would kick in if your home (or auto) insurance limits are exhausted.
A typical umbrella policy amount is $1 million, and it could cost you a little over $100 a year, depending on your insurance company.
filed under UNCATEGORIZED | tags: HOME INSURANCE, umbrella insurance
nv said:
Dec 18, 09 at 1:16 pmDidn’t know this could even cover liability if you serve on a board of a charitable organization! When I served on a nonprofit board, I heard about the possibility of insurance because you’re actually financially responsible for the organization’s actions at that point. I sort of forgot about it (didn’t want to think about it). Thanks for the link to the article… it didn’t occur to me to ask my homeowners insurance company about this.
Sara said:
Dec 23, 09 at 4:36 pmWe had an office holiday party one year and a client’s toddler was cut by a porcelain snowflake which resulted in her needing stitches. Luckily we did have some extra insurance coverage lying around to take care of this. (And, lucky our client remained so.)
Haley said:
Dec 30, 09 at 3:56 pmNV - I think its easy to forget about insurance and liability because we never want to foreshadow an accident. Good thing this article is here for us to remind us of the little things!