If You Decide to Park Your Car in Someone Else’s Living Room, Be Sure You Have Umbrella Coverage First!
On April 2nd, George Benonis turned onto his street after a day at work to see emergency personnel and news vans swarming around a neighbor’s house. There was gaping hole through the house left by a car that swerved off the road — the vehicle crashed through the front of the house, went through the dining room, and clear out the other end! Fortunately, no one who lived in the home was hurt and the passengers in the car survived.
For George, who has been in the insurance business for over 30 years, it resonates the importance of having excess liability insurance or what is typically called personal “umbrella insurance”. This insurance provides coverage beyond your homeowners or auto policy by adding an extra layer of liability coverage. Property damage liability means damage to OTHER people’s property – or as George likes to say, “It covers the other car you hit, the pole you knock down, the lawn you drive over or, in this case, the living room you park in.”
Most policies, even the better ones, have a maximum liability coverage of $100,000. The umbrella policy “kicks in” where the existing coverage ends, covering you for $1,000,000 in liability or more! In addition, umbrella insurance also covers worldwide travel while most typical policies cover incidents in the U.S. and Canada only. Umbrella insurance also covers situations that may not be covered by another policy such as libel and slander.
Umbrella coverage is surprisingly affordable – $1,000,000 liability typically starts around $175 — a bargain considering the costs that could be incurred without such extra insurance.
To find out more about umbrella insurance and how much money you can save, call (215) 942-0616 for a FREE No Obligation Quote or contact George Benonis or Paul Martin at Huntingdon Insurance via email at quotes@huntingdonins.com.
To see firsthand what a crazy accident this was, Click here or on the image above for the local news video of the incident.
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