PERSONAL UMBRELLA

How Jerry discovered he didn't have enough insurance

from the desk of Agent Tim

Jonathan had been told by his long time insurance agent that 100,000 of car insurance liability insurance was enough


For years Jonathan only carried 100,000 of liability although he owned a house, two cars, a swimming pool and a boat


"No claims ever exceed 100,000 and plaintiff attorneys in this city accept your limits in a settlement" he was told by his agent


This may be the case with billboard attorneys on most small claims but what happened to Jonathan was different


He was talking on the phone in his car and dropped his pen as he was trying to write down an address


In a second his financial future changed


He struck a car with a woman and four kids inside


One of the kids in the car had to undergo two surgeries to their ankle


Jonathan's insurance company was able to settle most of the claims but this little girl's claim couldn't be settled


Jonathan's insurance company told him to obtain his own attorney and asked if he had an umbrella policy


Jonathan had never heard of an umbrella policy and his agent never offered one


Jonathan was going to court in a few weeks and his financial future was now in the hands of a jury of his peers....



Not sure if you need a personal umbrella policy?

It takes one mistake or accident to alter your lifestyle and that mistake or accident takes seconds.

The article explains why you need to protect you, your family and your assets today.

You need a personal umbrella policy if you

Own a Car
Own a house
Own a rental property
Own a boat
Want to protect your future earnings
Want to protect your assets from a lawsuit



BAD THINGS HAPPEN TO GOOD PEOPLE

You need to use insurance to protect what you worked so hard to buy.

An Umbrella policy is designed to protect you and your family from a financially devastating event.

If an accident happens and you are legally liable for damages, your financial future is in the hands of the insurance claim representative and in our area, more than likely, the plaintiff attorney.

They will decide your fate.

If they can’t settle the claim, the case goes to court and either a plaintiff friendly judge will decide the damages or a jury of your peers.



YOU DON’T HAVE TO BE A MILLIONAIRE TO GET SUED LIKE ONE

If you only have 100,000 of liability on your auto policy, but the judgement is 500,000…

Your auto policy would pay $100,000 to the plaintiff(s) and you would be responsible for paying 400,000 out of your pocket.


REAL LOUISIANA CLAIM PAYOUT

While driving a friend to the movies, the insured driver lost control and hit a telephone pole.

The passenger became disabled and lost use of her right arm and suffered brain injuries.

The claim was settled for $1,350,000


HOW MUCH DOES A PERSONAL UMBRELLA COST?

The cost of an Umbrella can be less than

$1 a day


WHAT UNDERLYING LIABILITY LIMITS DO YOU NEED TO QUALIFY FOR AN UMBRELLA?


Auto liability 250,000/500,000/100,000

Homeowners 300,000

Boat 300,000

Motorcycle 300,000

Rental Dwelling 300,000



WHAT DOES THE PERSONAL UMBRELLA POLICY COVER?

A personal umbrella policy protects you in two ways:

Increases the liability limit above your primary policy limit

Usually 1,000,000 to 5,000,000 but some companies can go as high as 100,000,000.

If you have a 250,000 auto policy limit and a 1,000,000 umbrella policy,

you would be protected up to 1,250,000 on an auto insurance claim.


Do you own a swimming pool, slide or trampoline?

More than likely your homeowners policy excludes liability from a diving board, slide or trampoline.



What causes the most injury claims in your backyard?

a diving board, slide or trampoline.


If you have a swimming pool or trampoline you must have a Personal Umbrella Insurance policy to protect you from a liability claim.



LIBEL, SLANDER or DEFAMATION OF CHARACTER

Posting on social media has increased the liability exposure to millions of Americans.

You need to be aware what is typed on social media can result in a liability claim settlement and your homeowners insurance policy may not be enough.

Some homeowners insurance policies have a sublimit of $25,000 to $300,000 for personal liability.

Risks online include

Cyber Bullying
Sharing sexually explicit content
Defamation of character statements


These claim settlement often exceed your available liability limit on your homeowners policy and you would be left paying out of pocket the remaining settlement.


PROTECT YOUR ASSETS

Yes a court is not going to throw you out of your house and put you on the street but your lifestyle will be limited after a court settlement.

Assets at risk when the insurance runs out?

Savings account
Investment account
Real Estate
Valuables, jewelry, personal property
Future wage garnishment


How to determine if you need a Personal Umbrella?

Look at these five things to determine if you are properly protected.

Just add these values

+Equity in your Home


+Sum of all property you own

+Your total investments (stocks, funds, ira)

+Your savings and checking account balance

+Add up you and your spouse future wages (multiply your annual salary by the estimated years until retirement)

=The result is add up all the amounts above and compare to your liability limit amount on your auto or home.


Does the above amount exceed the liability limit of your auto insurance?

25,000?

50,000?

100,000?

250,000?


The number #1 reason that should get your attention is future wage garnishment.



In the event of a judgement against you, your future wages could be garnished until you make the injured party whole.


How much liability insurance do you need to help you properly protect yourself against a judgement and future wage garnishment?

What’s this all about?

Every company has a different policy form so you must check with your agent to determine if a possible future claim would be covered under an Umbrella.

The purpose of insurance is to protect you from something you can’t financially recover from.

The umbrella policy is the most important policy you can purchase to protect yourself from unforeseen events that put your assets at risk.


My name is Tim D’Angelo and I would like the opportunity to talk to you about using insurance to protect your assets.



Complete the form and I can explain in more detail about the need for a Personal Umbrella Insurance policy in South Louisiana and answer any questions you may have.

STEPS NEEDED TO GET A RISK ANALYSIS PROPOSAL


COMPLETE THE QUICK FORM BELOW

CAR INSURANCE

Low rates for preferred drivers

HOME INSURANCE

Top rated companies offering superior coverage

UMBRELLA

The protection you need to protect what you have

AGENT TIM

I help you get the protection you need for the value you want

100% CUSTOMER SATISFACTION


Our customers say it best.  Over 200 Google 5 star reviews and counting.......see what our customers have to say https://www.fmagencygroup.com/reviews/

© 2017 FM AGENCY GROUP All rights reserved