Interesting Facts About Umbrella Insurance

Protecting your valuables is among the things that come first in your life. It is the only trusted way to ensure peace of mind. Among the different options available in the market, umbrella insurance carries significant weight. If you live around Oviedo, FL, you must have heard about The Wurzel Agency, leaders in insurance services. Far from other alternatives, the umbrella policy provides coverage for many life situations, as the name umbrella suggests. 

What Are the Basics of An Umbrella Policy?

The policy is extra financial coverage that shines brighter after you have exhausted all your keynote limits. One advantage it features is that it secures additional situations that other insurances tend to lockout. Understanding its limits and extents is can be rewarding to a client. 

The primary intention of umbrella insurance is to offer extended protection to your finances, assets, savings, and other valuables. It covers you from extreme court rulings and hefty liabilities claims. Among situations that the policy covers, they include.

  • When you cause a road accident hitting someone’s car when your dog injures another person 
  • If a guest sustains injuries while in your home
  • The policy safeguards you from hefty liabilities

Various risks are inevitable, and the umbrella insurance policy is there to protect you whenever the unexpected happens. If a situation forces your primary policy to stretch beyond its limits, the umbrella policy comes to bring a new dawn. Whether it is an accident, an injury, or any other catastrophe, you cannot overlook its benefits.

It Is Highly Affordable

You will appreciate the fair charges that most insurance agencies feature for the umbrella insurance policy. The low fee goes a long way to cover your assets worth millions of dollars. Investing in such an insurance policy is worth every penny.

The Wurzel Agency offers friendly terms for an umbrella policy in Oviedo, FL. Contact us today and schedule a visit to our offices.

Enjoy More Peace of Mind With an Umbrella Insurance Policy

Having good insurance matters, especially when it comes to making sure protection levels are adequate. You want to know that the coverage you have is thorough, and that it’s the right type and level of coverage for your needs. If you’re in the Oviedo, FL area and you’re looking for umbrella insurance coverage, we can help at The Wurzel Agency. Our agents are committed to finding you the right policy for your needs, so you can have peace of mind and know that the things you value are properly protected. We’re here to help you, and will be happy to answer your questions, as well.

Umbrella policies are designed to cover any claims made that exceed the limits of the policies you have in specific areas of life. That’s just like an umbrella covering you from the rain, and making sure you have an additional layer of protection beyond your coat or hat. In the same way, umbrella policies for insurance coverage give additional protective layers to your policy limits. You’ll not only have more peace of mind, but you’ll have more security and can feel better about taking care of the things you own. You don’t have to be wealthy to need or want this kind of coverage. It can be a great idea for anyone who wants added protection for their assets.

Reach out to us today at The Wurzel Agency, and let us answer your questions about umbrella insurance. We want all our clients in the Oviedo, FL agency to have the policies they need for safety and security. You can be one of them when you come to talk to our knowledgeable agents about the help and support you’re looking for to protect your possessions. There’s no reason to feel like you need more coverage when you can get it from us and not need to worry anymore.

Dog Lover? Think About Umbrella Coverage

In today’s economy, everyone is pinching pennies. So why worry about umbrella coverage? Shouldn’t a home and auto policy leave you adequately covered? 

Unfortunately, we live in a world of lawsuits. Substantial damages can be awarded, be extremely expensive, and have a long-term financial impact. Those lawsuits can come from unlikely sources, such as our furry friends.

Take Charlie, for instance. Charlie is a much-loved, rather timid labradoodle who enjoys taking naps on the driveway while his owner mows the lawn. 

Charlie watched from eight feet away as his neighbor, a 39-year-old man, rollerbladed with his kids. The man wiped out on the sidewalk in front of Charlie’s house and broke his leg. He required surgery, costing around $35,000 in medical costs and $18,000 in lost wages.

Fair or not, the man brought a lawsuit against Charlie’s owner, suing for $220,000 in damages. He alleged that Charlie had caused the accident by getting in his way, despite multiple witnesses to the contrary. 

Charlie’s owner was lucky — a jury vindicated Charlie. However, lawsuits like this can easily exceed the limits on a homeowner’s policy, leaving the insured responsible for the remainder. An umbrella policy would prevent that, giving you an extra $1 million to $5 million in coverage.

Our furry friends can put our assets at risk in other ways as well. According to the Center for Disease Control and Prevention, 4.7 million people are bitten by dogs each year, with half of those occurring on the owner’s property. Dog bites, according to the Insurance Information Institute, account for about a third of all homeowner’s insurance claims, which only cover limited damages.

Protect what you love. Call us to talk about your umbrella options. The Wurzel Insurance Agency is here for you! Give us a call at (407) 977-5700 to speak with one of our experienced agents, or email us: hello@wurzelagency.com.

3 Tips for Buying Umbrella Insurance in Florida

Umbrella insurance is added on the insurance that kicks in when your traditional policy runs out. It’s a vitally important piece of insurance to have since it gives you peace of mind by knowing that whatever happens, you’re covered. If you’re considering purchasing an umbrella insurance policy in Oviedo, FL, here are three ways to get the best policy for your needs and save money in the process.

1. Work with a Reputable Agent

Your first step should be to connect with a reputable, friendly agent. Trying to navigate the maze of insurance policies can prove challenging when you’re doing it on your own. However, with the help of an insurance agent, you will better understand what each policy has to offer and at what price.

2. Compare Several Quotes

You and your agent will compare several umbrella insurance quotes to find the best one for your needs. This is the perfect time to ask questions and get clarification and guidance. An insurance agent from The Wurzel Agency can help you with this.

3. Bundle Your Policies

Your insurance agent will also assist you in bundling all your policies under one insurance carrier to save money on your premiums. You can stay with your existing carrier or switch to a new one for added savings and excellent coverage. This is one of the easiest and quickest ways to save money on insurance.

To learn more about umbrella insurance, why you need it, and the best approach to purchasing a policy, contact The Wurzel Agency today. We serve the Oviedo, FL area and are standing by to help you get maximum coverage with the right umbrella insurance policy at the right price.

 

In Today’s Social Media World, Are You Protected From Libel?

It is widely thought that a homeowner’s insurance policy covers only incidents that physically occur in the home. This is only partially correct — in fact, with the right conditions in place, coverage can go beyond the home and can insure you for a personal injury claim. You might think of the term “personal injury” as meaning a physical injury suffered by another party. But while a liability policy will likely apply to an incident of physical injury, personal injury is a broader concept.

In the insurance world, personal injury can include harm caused by false arrest, detention, or imprisonment; malicious prosecution; wrongful eviction; slander; libel; and invasion of privacy. A personal injury policy can protect a homeowner and others covered under the policy against a claim for almost every injury that someone can experience without suffering any actual physical harm.

Given this broader definition of personal injury, would your policy cover a claim, for example, for accidentally saying something personally harmful on social media? It depends on the scenario. Here are a few examples:

Scenario 1: Your homeowner’s policy covers liability, but does not cover personal injury liability. In this case, you would not be covered.

Scenario 2: Your homeowner’s policy specifically includes personal injury, but the coverage was added in as an endorsement. If a liability coverage amount appears on your policy, it might cover only physical injury and property damage; it might not cover personal injury. To cover personal injury, the added endorsement must specifically state the words “Personal Injury.”

Scenario 3: You have a deluxe type of homeowner’s policy that automatically covers personal injury. These policies are typically designed for large homes that are over a certain square footage and for homeowners with more sophisticated needs. The cost of these policies is slightly higher than a regular homeowner’s policy, and the policy often includes a number of additional endorsements.

Scenario 4: You have an umbrella policy. Many umbrella policies automatically include personal injury coverage and drop down to first dollar coverage. However, it’s never safe to presume this — be sure to confirm with your agent.

What’s the Bottom Line?

If you are active on social media or even in your community, you are more prone to being sued. What you say might be perfectly fine, but if someone feels your statement has injured them, as innocent as you might have thought it was, that person can file suit against you (with or without an attorney). The good news is that if you have personal injury coverage, your insurance company will defend you against such a suit at no cost to you.

In this case, you will be represented by one of the best attorneys to fend off false allegations, and you’ll save thousands in legal fees. If it turns out that something you said or the way that you said it leaves you liable for personal injury to another party, your insurance company will also pay the amount of the judgment, up to your policy coverage limits.

Ask Your Agent for a Free Policy Review

Call your insurance agent to find out if your homeowner’s or renter’s policy has personal injury coverage. If it does not, this important coverage can be added for an additional minimal cost. Be sure this coverage is listed on the declarations page of your policy and that the appropriate provision is in the policy. Many policies are sent via an electronic PDF file, and it’s easy to run a keyword search in the document for the words “Personal Injury” to see if it is included and whether you are covered.

Don’t wait until after you’ve been served with a lawsuit and it’s too late — call your agent today!