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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (48628)2/22/2006 4:04:15 PM
From: TradeliteRead Replies (5) of 306849
 
<<If you have significant assets or income and don't have insurance with an Umbrella Policy, you are a fool.>>

This is an interesting discussion point. I recently gave up my umbrella policy, and the only reason I got it in the first place was the fact of having two teenagers out on the roads in their own vehicles and on their own two feet, doing who knows what to whom.

Once they left, I revisited this issue with my insurer and was told that I would have to be terribly negligent in some case to have to pay more than was already covered in my regular insurance policies. I don't plan to be terribly negligent, nor does my spouse, and I'm (for now) taking my insurer's advice for what it's worth, whatever that is LESS the extra cost of an umbrella policy.

The more you have, the more they will take. Having an umbrella policy just might be temptation for the other side to grab for more. Am I right or wrong? Not sure.
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