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Umbrella insurance is meant to shield consumers from charges that go beyond what their traditional insurance covers. In auto coverage, an umbrella plan will kick in after a traditional liability or comprehensive insurance plan stops paying. For example, if you re in an accident and are found to be at fault, the insurance you have will pay for the charges up to the limit that you have placed on the policy. A $15,000 liability policy will pay for the first $15,000 damages, but if your bill comes to $40,000, you re liable for the remaining $25,000. An umbrella insurance policy will pay that bill, and you ll be left in reasonable financial condition.

Umbrella insurance doesn t just cover damages due to car accidents. It can also protect you from becoming financially devastated if you re sued for something that is beyond your control. If a person is damaged on your property, or by something on your property (even a tree!), you can be held legally responsible. Although some states do protect certain asse (more...)

Homeowner insurance has a lot of different benefits and features but the actual coverage is divided into two policy sections. These sections protect you from the perils defined in the policy.

Section I

A - The Dwelling - The dwelling and attached structures
B - Other Structures - structures un-attached
C - Personal Property - contents of the dwelling
D - Loss of Use - additional living expense

The list of perils that a homeowner policy insures against are fire and lightning, windstorm or hail, explosion, riot and civil commotion, aircraft, vehicles, smoke, vandalism and malicious mischief, theft, falling objects, accidental discharge of water and steam, sudden and accidental tearing apart, freezing, and volcanic eruption.

Section II

E - Liability Coverage - Personal Liability provides coverage in the event a claim or lawsuit is brought against the insured because of bodily injury or property damage caused by an occurrence.

F - Medical Payments - (more...)