How to get even more power for your existing insurance policy

Although you may not know it, standard homeowners insurance policies, as well as auto, boat and business coverage, are limited. The gap in coverage is the reason that when damage or loss occurs, you may file a claim that will not compensate to the extent that you expect. For this reason, many choose to purchase an affordable personal policy.

The ins and outs of a personal umbrella policy

Since more than eighty percent of general liability claims are related to car accidents, any driver could face catastrophic losses without it. Consider the following examples of real risks.

• A sixteen-year-old boy was driving his father’s car. He missed the stop sign at the corner and collided head-on with another car. The other driver suffered serious back injuries.

• A woman worked overtime for two weeks due to work overload. She was so tired driving home one night that she fell asleep at the wheel, causing her car to veer off the lane into the oncoming lane of traffic. A car saw the woman’s car coming towards it and swerved to avoid a crash. The other driver’s car crashed through the front window glass of a retail store. Damages included property loss and an injured worker.

• The kitchen contractor hired by a homeowner was hard at work improving the kitchen area with renovations when the accident occurred: he tripped over a mound of wood debris and seriously injured himself. Because he didn’t have enough personal insurance to cover the doctor and hospital bills, he sued the homeowner.

The ins and outs of a commercial general insurance policy

If you own a business, you know there are liability risks in your field. Gaps in standard business coverage could spell financial disaster in the event of significant loss and damage. Think about the following examples to realize the scope.

• An employee claimed that her boss treated her improperly and sued her for sexual harassment.

• An African-American worker was unhappy because his boss moved him to another department. He sued the business owner for discrimination.

• The chief’s assistant developed a case of carpal tunnel syndrome, which resulted in necessary surgery and a few months of occupational therapy.

• A passing pedestrian slipped on the sidewalk in front of a retail store and broke his ankle. He filed a lawsuit for pain and suffering, as well as related medical expenses.