Tuesday, November 10, 2015
Personal Umbrella Liability Basics
It’s an unfortunate fact that accidents happen—and it’s not uncommon for jury awards and out-of court settlements to run into the millions. While it’s difficult to pinpoint the monetary consequences of the risks you and your family take each day, are you certain your current liability insurance offers you enough protection?
For example, what if:
* Your teenager runs a stop sign, causing a serious accident?
* A deliveryman falls on your sidewalk and is seriously injured?
* A babysitter is injured by your otherwise friendly dog?
If you are found to be legally responsible for injuring someone or damaging their property without a personal umbrella liability insurance policy, anything beyond the limits of your standard liability insurance coverage will come out of your own pocket. Standard liability insurance generally includes homeowners, renters, auto and watercraft policies.
Like an umbrella that protects you from the rain, a personal umbrella liability policy provides an extra layer of insurance coverage over your standard liability policies. It protects your personal assets by kicking in when your standard liability coverage is exhausted.
Monday, November 2, 2015Plummer Insurance is hosting a customer appreciation and grand opening of their Gering and Bayard locations on Wednesday, November 4th, at Weborg 21 Centre (2625 10th Street, Gering Nebraska 69341). The event will be from 5:00p to 8:00p. Hors D’oeuvres and drinks will be provided.
Friday, October 2, 2015
Why Car Rental Insurance?
The best time to make the decision about whether you will need extra rental car insurance is before you’re standing at the car rental counter. Read on to learn about car rental insurance considerations and what you need to know to make sure that you’re covered.
It’s not uncommon for rental car agencies to offer you the opportunity to purchase additional auto coverages, but do you need them?
Collision Damage Waiver (CDW), or Loss Damage Waiver (LDW), relieves you of financial responsibility if your rental car is damaged or stolen. If you have comprehensive and collision on your own car, you most likely do not need to purchase CDW from the rental car agency.
Additionally, your credit card company may include some collision and theft protection if the rental car is paid for with your card. This includes coverage for “loss of use,” which refers to the amount of money a rental car company can stand to lose while a car is being repaired. If your credit card doesn’t offer coverage for loss of use, you may want to consider purchasing CDW from the rental agency.
Liability insurance provides excess liability coverage of up to $1 million for the time you rent a car. Rental companies are required by law to provide the minimum level of liability insurance required by your state. Generally, this does not offer enough protection in a serious accident. If you have adequate liability coverage on your car or an umbrella policy on your home/auto, you may consider forgoing this additional insurance.
Auto Policy Options
If you don’t have comprehensive and collision coverage on your own car, you will not be covered if your rental car is stolen or if it is damaged in an accident. If you plan to rent a vehicle frequently, your best bargain is to purchase a non-owner auto liability insurance policy from us.
A non-owner auto liability insurance policy covers you for damage that you may cause to someone else’s car and liability for injuries to its occupants, or to pedestrians, in the event of an accident. The policy will also provide medical payments coverage for you and your passengers, and under-insured and uninsured coverage. This pays for the cost of an accident involving a hit-and-run driver or a driver who has little or no insurance.
However, non-owner auto liability insurance does not provide collision coverage. Collision coverage pays for damage to the car you’re driving if you crash into another car or object, or the car rolls over.
If you drive an older vehicle, but plan to rent a luxury vehicle, it’s important to make sure that your policy will cover the complete cost of the replacement value of the vehicle you are renting.
In addition to a non-owner auto liability policy, an umbrella liability policy is also an option to meet the underlying auto insurance policy requirements when renting a vehicle.
One more thing to note: if you are renting a vehicle that is not classified as a passenger car (such as a moving truck, 15-passenger van, etc.), you must purchase a separate policy from the rental company to be covered in that vehicle.