UMBRELLA POLICY
What Is An Umbrella
Policy & Why Do You
Need One?
I
n the blink of an eye, a multimillion-dollar lawsuit could
erase the value of your home, car, property, savings,
investments, and income. An umbrella policy can protect
your assets and prevent financial hardship, giving you
broader coverage if you are sued and the peace of mind of
knowing you are protected.
Reasons to Consider an Umbrella Policy
• Increase your liability coverage in the event that you are
found responsible for a serious car accident or an incident
on your property
• Protect your personal assets from claims that may exceed
the limits of your primary auto, home, or boat policies
• As y ou accumulate more assets and add youthful operators
to your auto policies, you may increase exposure to risk
RISK FACTORS
Becky Gilmore is the Personal
Lines Manager. Becky manages the
Personal Lines Department from
customer service to marketing with
BY: BECKY GILMORE
numerous insurance companies.
PERSONAL LINES MANAGER
She specializes in customer detail
MARCOTTE
and reviewing coverages with clients.
Becky joined the agency in 1997 and brought 25 years of insurance
knowledge and management experience with her. She has obtained
her specialty insurance designation of Certified Professional
Insurance Woman (CPIW) and Certified Insurance Counselor (CIC).
Becky holds her Property/Casualty license, is a Nebraska Notary, is
a member of the Independent Insurance Agents of Omaha, chaired
various insurance related committees and remains active in the
insurance community. You can contact Becky at 402-970-3316 or
[email protected].
CONSIDERATIONS
QUESTIONS
Home Do you own a home? If you have equity in your home, in some states, a
plaintiff could attach a lien.
Retirement Accounts Do you have retirement accounts? Stocks? CDs? Young Drivers Do you have young drivers in your household? A plaintiff could target a pension, 401(k), and even
future inheritance.
Travel Do you ever travel outside the country? Do you plan
to in the future? Most auto policies have geographical restrictions,
but a personal umbrella policy provides worldwide
coverage.
Income Does your income level, combined wages, or future
earnings put you at a greater risk of a lawsuit? Wages can be garnished to satisfy a judgment.
Hospital-Related Services Are your limits the same as they were 10 years ago? Hospital-related services have almost doubled in the
last 10 years.
Borrowing Property
Have you ever borrowed a boat? A neighbor’s truck?
Used a brother’s motor home?
Liability costs could run into hundreds of thousands of dollars
or more. Your existing policies may not be enough. Instead of
wondering about what you could lose, find out about the added
peace of mind you could gain with an umbrella policy.
Young drivers make mistakes, sometimes ones that
are very costly.
Your current insurance coverage may not cover you.
To make it easy for you to get the right level of coverage for your
specific needs, we offer limits ranging from $1 million to $10 mil-
lion for customers meeting certain eligibility criteria. When you
require legal defense for a covered claim, the umbrella policy helps
cover defense costs such as attorney fees and other expenses. +
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