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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (48955)2/22/2006 7:43:48 PM
From: orkriousRead Replies (1) of 306849
 
I don't know about "terribly" negligent. You just have to be at fault and have caused damages that exceed your auto or homeowners liability limits. It's easy to happen in an auto accident. It's not easy on a homeowners policy, but it can happen. What happens if one of your kids pokes out another kid's eye?

Umbrella claims don't happen very often but the coverage is cheap. That's what I want to insure, something which doesn't happen often but if it does it costs me a fortune.

If an insurance agent told me I didn't need an umbrella policy I'd either have him put it in writing (and get a copy of his Errors & Omissions policy and make sure it had a liability limits of a few million dollars) or I'd find another agent.
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