Let’s set the scene. You don’t know how it happened, or where the time went, but somehow, you have a teenage driver living in your home. You have done your very best as a parent to teach him or her the do’s and don’ts of the road. You have done your very best to protect them. “Wear your seatbelt.” “Stop at every stop sign.” “Follow the speed limit.” “Don’t text and drive.” As many times as you hammer it in, kids will be kids. Of course, you hope that nothing will happen, but the risk is there, and the question of, “what if?” always lingers in the back of your mind. Let’s just say, hypothetically, that your teenage driver does cause an accident, involving several vehicles, due to texting and driving. You are held liable. Costs for damages and medical expenses exhaust the limits on your auto policy. What happens now? Where does the rest of the money come from? Simple. Only the personal assets you have spent your life acquiring. This is a prime example of why we strongly suggest that everyone to invest in an Indiana umbrella insurance policy.
An umbrella policy is exactly what it sounds like. It provides additional coverage that extends over your underlying liability policies, policies that you already have in place, to protect you in the situation where costs from a liability claim exceed your standard liability limits. Umbrella insurance policies are good for, and recommended to, all of our clients. Reason being, not only can people sue and come after your personal assets, but your future earnings and inheritance, as well. You spend your whole life building up your assets and working hard to save enough money to provide and ensure a secure financial future for you and your family. We know all about that at IMG, as we, too, are investing in the protection and future of our families. No matter how much we try to prepare for life’s hiccups, sometimes there is no preventing them. That’s why they are called “accidents.” And it only takes one to potentially wipe out everything that you have acquired and worked for.
By having an Indiana umbrella insurance policy, you can alleviate those worries. If you are sued for something that happens on your property that maxes out your coverage limits on your homeowner’s policy, such as someone slipping and falling out by the pool, or the family dog accidentally taking a bite out of someone you’ve had over for company, your umbrella policy will pick up any excess cost. While umbrella policies differ in limits and premiums based on certain criteria, in most cases, one of these policies will cost you less than $1 per day. So, why chance it? It’s easy to think that these types of occurrences are slim, and most likely won’t happen to you, but when they do, and the excess costs amount to thousands of dollars or more, you will be relieved in the fact that your personal umbrella policy is there to cover the expense.
To us, at Insurance Management Group, you are like family. And just as we work to care for and protect our families, we want to help do the same for you. Stop by our office or give us a call to talk to one of our agents to learn more about the different ways an Indiana umbrella insurance policy is relevant and beneficial for you. We will work with you, side by side, to collect the information we need and really learn about your risks, to put together a policy that ensures protection for you and your family’s financial future.