How to add a personal liability policy


I'm considering taking out an umbrella liability policy for my house and my cars. Can I do this if I have my home and auto insurance with two different companies? In addition, how much do umbrella fonts cost? – John Culbertson, Port Neches, Tex.

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A comprehensive liability insurance policy protects your assets and future income from litigation. It comes into play when you have exhausted the liability coverage of your home or auto insurance policy. Some insurers require that you have auto insurance and home insurance with their business before selling you an umbrella policy, but most will sell you a policy if you have a home or car with them (and some insurers issue fonts with autonomous compartments). . According to David Spencer, Senior Vice President of the ACE Private Risk Services Insurer, you typically get a 5% to 10% discount per policy if you buy them together.

According to Bill Howard, an independent insurance agent in Alexandria, Va., To qualify for a group insurance policy, you generally need to take out third party liability insurance for your car and $ 300,000 from your home. The insurer can offer you a discount on your group insurance policy. if your coverage exceeds these amounts.

The age and driving history of your household and other factors affect premiums: A $ 1 million policy pays between $ 175 and $ 300 a year to a family with a house and two cars, and does not present any particular risk, says Spencer. (A $ 5 million policy usually costs up to $ 800 a year.) Adopt the highest level if you have an adolescent driver, pool or other significant risk, or valuable assets greater than $ 1 million. Some insurers include legal fees in the coverage; others cover them above the policy limit By increasing your home and auto insurance deductibles by $ 500, for example, you will be able to afford this protection.

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