Umbrella Coverage

Why Should Your Family and Your Business Both Have Umbrella Insurance!

The easiest way to understand why you must carry umbrella insurance is to consider a simple and rather small loss.  If you or your company, son, daughter, employee injure another person because you didn’t stop at a stop sign, or through your personal or business activities you accidentally did something to hurt someone else you are responsible for their losses.

Here’s An Example:

If you take a person age 35 earning just $30,000 a year, and you hurt them so they can no longer work, you owe them $30,000 until they are 65 years old.  30*30 = $900,000.  This amount will be discounted to the value today of all those future payments, but to this amount will also be added inflation.  So for just loss of income you will owe the person you hurt over $1,000,000.  If they are younger, earn more money, or you hurt more than 1 person this amount goes up rather quickly.

I don’t know of anyone or any business that should not have an umbrella policy.  As you watch the video below it will explain how an umbrella insurance policy will stack on top of your other policies giving you that extra coverage you or your company needs to protect your assets and take care of the person that you hurt.

Your Trusted Insurance Agency

Call for a GDI Insurance Agent to help you get your umbrella insurance policy.  We have dozens of companies we can get you quotes for.  As a simple example a homeowner with 2 cars and 2 drivers a $5,000,000 umbrella costs about $370-$600 more a year.  In most cases GDI Insurance Agency, Inc. can save you enough money on your other insurance personal or business to include an umbrella for no more than you are currently paying.  Sometimes even less!

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