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Your Neighborhood Agent

Written by Terri Johnson-Cox

The insurance industry loves its jargon and unless you’re around it every day as I am there is a strong possibility it might leave you scratching your head. To minimize confusion and prevent potential gaps in your insurance, let’s talk about Personal Liability and Umbrella Coverage; two topics that always need more explanation when I am consulting with clients.

What is Liability Coverage? – Covers you when you are legally liable for someone else’s bodily injury or property damage resulting from an accident, negligent acts by you or household members.

Liability Insurance – Does not cover anything tangible. Instead, it only covers liability, i.e. money you need to pay if you are found legally responsible for damages when someone makes a claim against you.

What is an Umbrella Policy? – Umbrella insurance supplements the liability coverage over and above the liability limits of your underlying auto and home policies, providing an extra layer of coverage. Consider it financial catastrophe protection and emotional comfort when you really need it most.

How much coverage do I need? – There is no precise formula to calculate the amount of liability coverage you may need. As with all insurance decisions, the amount of insurance that is right for you depends on your individual situation and risk tolerance.
What Factors Should I Consider When Deciding How Much Coverage I Need? – Net worth is one factor to consider along with your current and expected income. The greater your assets and earnings, the more coverage you may want to consider.
Liability and Umbrella Insurance can be complex. I offer a free service that simplifies your options, so you can decide if your policy gives you the coverage you want. Let’s have a conversation. After all, the more you know, the better you can plan for what’s ahead.

Call your neighbor at the Terri Johnson-Cox Insurance Agency at 760-340-1441 for your appointment today.



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