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Transcript of Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by...
![Page 1: Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.](https://reader036.fdocuments.us/reader036/viewer/2022083006/56649f345503460f94c50be2/html5/thumbnails/1.jpg)
Umbrella Insurance
Note
Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann.
I highly recommend this book.
![Page 2: Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.](https://reader036.fdocuments.us/reader036/viewer/2022083006/56649f345503460f94c50be2/html5/thumbnails/2.jpg)
Personal Umbrella
• Auto and homeowner liability insurance policies are not enough– dollar coverage and type of incidents
• Umbrella Policy: A second layer of liability
![Page 3: Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.](https://reader036.fdocuments.us/reader036/viewer/2022083006/56649f345503460f94c50be2/html5/thumbnails/3.jpg)
How much to buy?
• Umbrella sold in million-dollar increments
• It is inexpensive
• What is your suability factor?
![Page 4: Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.](https://reader036.fdocuments.us/reader036/viewer/2022083006/56649f345503460f94c50be2/html5/thumbnails/4.jpg)
Umbrella Policy Should Cover Gaps in Insurance
Gap: Liability risks not covered by primary (e.g., auto, home) insurance– Which gaps?
It depends on your lifestyle.
![Page 5: Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.](https://reader036.fdocuments.us/reader036/viewer/2022083006/56649f345503460f94c50be2/html5/thumbnails/5.jpg)
Examples, Umbrella Insurance May Help
• Boat, ATV, and other “toy” rentals
• Liability when signing a contract (e.g., rental of a chain saw)
• Sailboat racing
• Car rental (even though your auto policy may cover; an umbrella policy will cover above and beyond the auto policy
![Page 6: Umbrella Insurance Note Information in this presentation is derived from Insurance for Dummies by Jack Hungelmann. I highly recommend this book.](https://reader036.fdocuments.us/reader036/viewer/2022083006/56649f345503460f94c50be2/html5/thumbnails/6.jpg)
In a perfect world
• 1st, choose your umbrella policy first to make sure you have the coverage you need
• 2nd, select your auto and homeowner’s insurance
• Insurance companies often when sell you an umbrella policy if you do not have your auto and homeowner’s with them.