A family deciding to add home and auto together is a decision that almost always pays off in the event of an accident or a house fire. Bundling your Jordan home and auto insurance also payoffs by providing a substantial discount to the policyholders more times than not. This discount could be anywhere from 20% – 35%. That is considered a significant amount of insurance premium saved.
One key additional coverage that can save you additional money off your home and auto policies is the Umbrella insurance policy.
What Is An Umbrella Policy?
An Umbrella insurance policy is extra liability insurance that goes over and beyond your Jordan home and auto insurance. Umbrella coverage is generally attached to an auto insurance policy. However, you can add a plethora of additional items to it such as:
- Your home
- A 2nd home
- A 3rd home
- A 2nd auto
- A 3rd auto
- A boat
- A trailer
- And more!
Even though the Umbrella follows the auto policy and a discount is given to that policy. Some carriers will also discount the primary home policy some by a smaller percentage, as well.
Furthermore, an Umbrella policy is designed to “kick in” once you have had an insurance claim so large, that your “underlying coverages” (your home and auto policies) have been exhausted. If this were to ever occur, and you exhausted your home and auto coverages (money) without having an Umbrella in place. The funds would have to come from your savings, or life savings to cover the large claim you have been assigned the fault. This is a less than ideal situation that no one wants to be a part of.
Why Would I Need A Jordan Umbrella Policy?
We live in a highly litigious society where people sue one another at a very high and very fast rate. These days, it doesn’t take much to find yourself in a courtroom getting sued. Most of the time, the charges are thrown out, but you still have to hire an expensive lawyer and pay hundreds of dollars in court cost even if you win the case.
Image getting sued, and you lost the case? The damages award to a plaintiff could be in the millions of dollars range. Remember, if a person did not have an Umbrella in place, and was found to be negligent in someone’s injuries, the court will get their money by any means necessary. This could be:
- Wage garnishment
- Forced asset liquidation
- Seizure of future tax refunds
- And More!
Image having a new teenaged driver in the home. Image this teenager is driving down the street, and they are distracted and hit a minivan with a family of 6 people inside of it, and everyone in the van in seriously injured. The ICU charges alone could hit the hundreds of thousands of dollars in a matter of weeks. Now, if this family heals up right, and comes back from this catastrophic event, you can bet a hefty lawsuit is next.
If one doesn’t want to be left trying to pay a catastrophic event such as this out of pocket, rounding out your Jordan home and auto insurance coverage with an Umbrella insurance policy is the only way to go.
To learn more about Jordan home and auto Insurance or adding an Umbrella policy, contact the experts Duliban Insurance Brokers at 1-855-385-4226. Our licensed professionals will be happy to answer any questions you have.
At Duliban Insurance Brokers, we are just as serious about helping you save money as you are. With years of experience, and thousands of happy customers served, we will be glad to help you find the best ways to save on your Jordan home and auto insurance policy.
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