Homepage | NEWS | Economy | Finance | Your Money - Details
Umbrella Coverage for Preventing Your Ruin
the get-go, and their assets have grown and they never revisited the issue.”

For Jeff Cox, an owner of the third-generation insurance agency of Lloyd Bedford Cox in Bedford Hills, N.Y., and Greenwich, Conn., “the discussion about umbrella coverage usually starts at $5 million.” But he can provide up to $100 million in coverage.

Umbrella and excess coverage are extensions of home and auto insurance. Banks make people buy home insurance to get mortgages, and states require drivers to buy auto insurance. But no one mandates buying a policy that could turn out to be the most important part of your insurance package.

As a result, only 15 percent to 20 percent of clients at the Wall Street insurance agency of Campbell Solberg Associates buy umbrella coverage, said Rick Wiltshire, an executive at the firm. Instead, they stick with the $100,000, $300,000 or, in some cases, $500,000 in liability coverage that comes standard with the most widely sold home-insurance policies.

“You never think it’s going to happen to you,” said Rick

1 2 3 4 5

About Us

Add to Favorite

  Copyright © Kobi21.com 2006-2017