Personal umbrella insurance covers you when your current policy doesn’t. It goes above and beyond your auto insurance or homeowner’s insurance policy limits. It covers you when your liability adds up to more than your policy will pay.

Picks Up Where Your Policy Leaves Off

If hurt another driver in an auto accident, the driver’s medical bills might go well beyond your policy limits. And, you might need to come up with the amount that your insurance company didn’t pay. Coverage under this policy includes:

• Coverage over your home, auto or recreational vehicle limits
• Coverage for libel or slander
• Coverage for court and attorney fees for frivolous claims against you

Prevents You From Losing Your Home

You need not worry about losing your home to pay the difference between your insurance limits and your liability amount. Your policy will take care of it. These special policies often are available with limits of at least $1 million, but you can get higher amounts if you need it.

Coverage You Can Get

Personal umbrella insurance covers you wherever you go. For example, if you get in an accident while you’re on vacation at an international location, your auto insurance coverage might not cover you. But, you need not worry because your personal umbrella policy covers you. Other scenarios where you might find this insurance coverage helpful include:

• You’re liable for a contract worker who’s injured while working on your home
• While driving your car, your teen driver badly injures another driver
• You need to go to court because someone filed a fraudulent claim against you

Exclusions

If you intentionally hurt someone, you’re on your own. Personal umbrella insurance policies don’t cover criminal activities such as this one. You also won’t have coverage for workers compensation or malpractice claims. You can get coverage for work-related injuries through your employer’s workers compensation insurance. And, you can get an errors and omissions policy to cover malpractice claims.

Don’t get caught without adequate insurance to protect you and your family. Call us today to see if a personal umbrella policy is right for you. We’re happy to serve residents in Monticello, MN and the surrounding area.

Your business has a lot of expenses, from the rent you pay for your buildings to your office supplies. It’s important to keep costs and overhead as low as possible, without cutting much in the way of corners. When you’re looking into renters insurance, business insurance, or commercial insurance in Minnesota, you have a few key elements that affect how much things are going to cost.

Your geographical location is an aspect of your insurance that the company is going to examine closely. If you’re in an industrial location with your warehouse and your crime rates are significantly higher than the surrounding areas, the insurance is going to cost more. The rate of natural disasters in the area also has an effect of insurance such as commercial vehicle insurance.

When you’re getting coverage for commercial equipment, the amount that you pay for renters insurance or business insurance depends on the amount of assets that you need covered. It’s important to have a complete list of assets so you know exactly how much replacement cost would be if something would happen to all of your equipment.

Another factor, when purchasing business interruption insurance, is how much your business makes on a regular basis. Business interruption insurance helps you avoid any loss of income that would prevent you from being able to conduct business. What’s particularly important with this is your regular cash flow, not how much you make when you’re having income spikes. The insurance company looks at the average over a particular period of time to determine how much you should get. This also depends on how long the interruption is going to occur.

Figuring out what type of boat coverage you need to protect your vessel in Ramsey, MN can seem like a pain. Boats face an entirely different set of risks than any other vehicle you operate and insure, so understanding the types of coverage available starts with a bit of a learning curve. This quick overview will help give you an idea of what you’re looking for.

Liability

Like auto insurance, the most basic type of boat coverage is liability; that is, coverage for people who are injured or other people whose property is damaged on or around your watercraft. That includes bodily injury coverage and property damages your boat causes to docks or other boats in the water.

Comprehensive Coverage

Also like auto insurance, comprehensive coverage is a sort of umbrella policy for your boat, filling in the gaps that other policies leave behind. Comprehensive insurance typically covers the following:

• theft of your boat
• vandalism
• fire damage
• flood damage
• other weather-related damage and damages caused incurred when you’re not in the water

Uninsured Motorist Coverage

Your can also choose to purchase insurance that will cover your boat if you’re in an accident with an uninsured boater.

When is my boat covered?

When your boat is in the water or at the dock, your boat insurance policy covers it. When your boat is being towed, on the other hand, it’s covered by your auto insurance policy instead, and the details of that coverage depend on your auto insurance itself.

Depending on the details of your homeowner’s policy, your boat may or may not be protected when it’s parked at home. If it is, chances are the property you have on board is not. An independent agent in the Ramsey area will be able to look at your existing policy and help you decide just what type of coverage you need.