If You’re Retired, You Must Read This

Umbrella insurance protects retirement

Umbrella insurance protects retirement

What is Umbrella Insurance and Why is It Important When I’m Retired?

In our previous post, we discussed that there’s definitely a rising cost of living here in Prescott. There are several things driving our city’s growth: growing population, increased housing developments, and rising minimum wage. We’ve got a huge retirement community here in our beautiful town, and many are enjoying the fruits of their labor.

An average retiree has their house paid off, a good nest egg of cash in the bank, and perhaps a car or two. About 10-15 years ago, the best limits you could get were 100/300/100. Today, you can go as high as $500K in coverage, and add an umbrella to protect your assets beyond home and auto insurance.

Think of umbrella insurance as extra liability insurance. This type of policy protects you from major claims and lawsuits, and as a result, it helps protect your assets in the future in two ways:

  1. Provides supplemental liability coverage beyond the limits of your homeowners, auto, and boat insurance policies. Umbrella insurance kicks in when the liability on these other policies have been exhausted.
  2. Provides coverage for claims that are excluded from other liability policies including: false arrest, libel, slander, and liability coverage on rental units you own.

Umbrella insurance also provides coverage for things like:

Bodily Injuries

Your umbrella policy will cover medical bills and litigation expenses sustained from bodily injury claims. Here are some examples of situations that can be outside of your standard homeowners and auto coverage:

  • Your dog decides to bite a visitor or the gardener
  • You’re at fault for a car accident
  • A guest falls on your property and requires medical attention
  • A neighbor’s child falls and hurts themselves while playing in your yard

Property Damage

If there is damage that occurs to your property, or other people’s property, umbrella insurance is the supplemental insurance that can help in situations like:

  • If you’re at fault for a car accident where there’s damage done to the other driver’s vehicle and their property
  • If your dog decides to shred up your friend’s priceless Persian rug
  • Accidental damage to school property caused by your child

Rental Unit Owners

As a landlord, you face a lot of challenges. But perhaps one of the scariest is the possibility of being held accountable for accidents or things that occur when you’re not around. If someone trips over a crack in driveway of your rental property and decides to sue you for damages, your umbrella insurance coverage will protect you. If your tenant’s dog bites someone and you’re being held responsible for the injuries, umbrella insurance will also help cover the cost of these liability claims.

You’ve worked hard for your money and deserve to keep it protected against even the most unpredictable situations that standard homeowners and auto insurance policies won’t cover. If you haven’t discussed umbrella insurance with your insurance agent, now is the time to start. Give us a call today to learn how umbrella insurance can help protect your hard earned money.

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168 thoughts on “If You’re Retired, You Must Read This”

  1. Free Stuff

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  3. JerryTib

    Знаете ли вы?
    Старейшую в России организацию реставраторов велено было выселить и уплотнить.
    Подруга и последовательница Льва Толстого уже в детстве ходила босиком и отвергала нарядную одежду.
    Предок вождя революции участвовал в управлении долгами Российской империи.
    Английский крейсер ценой четырёх попаданий защитил конвой от немецкого рейдера.
    Перечень имён может быть самостоятельным поэтическим жанром.

    arbeca

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  4. JerryTib

    Знаете ли вы?
    Двое капитанов первого кругосветного плавания были казнены, следующего высадили на необитаемый остров.
    Русские мечтали о шапке-невидимке, а древние греки — о кольце невидимости.
    «С любимыми не расставайтесь…» автор написал после того, как чуть не погиб в железнодорожной катастрофе.
    Клирик-саксонец стать папой римским не захотел, а патриархом Севера не смог.
    Член Зала хоккейной славы готов был играть где угодно, лишь бы не переходить в тренеры.

    http://arbeca.net

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  8. IamnottheChrist

    Peace be unto you. What think ye of Christ? whose Son is He?

    answer from the Bible:
    God was manifest in the flesh, justified in the Spirit, seen of angels, preached unto the Gentiles, believed on in the world, received up into glory. (1 Timothy 3:16).
    This is the true God, and eternal life. (1 John 5:20)
    Behold, a virgin shall be with child, and shall bring forth a son, and they shall call his name Emmanuel, which being interpreted is, God with us. (Matthew 1:23)
    For unto us a child is born, unto us a son is given: and the government shall be upon his shoulder: and his name shall be called Wonderful, Counsellor, The mighty God, The everlasting Father, The Prince of Peace. (Isaiah 9:6)
    And there came a fear on all: and they glorified God, saying, That a great prophet is risen up among us; and, That God hath visited his people.
    And this rumour of him went forth throughout all Judaea, and throughout all the region round about.(Luke 7:16,17)
    And he that seeth Me seeth Him that sent Me. (John 12:45)
    he that receiveth Me receiveth Him that sent Me. (John 13:20)
    the word which ye hear is not Mine, but the Father’s which sent Me. (John 14:24)

    What to do?
    Verily, verily, I say unto you, He that heareth My word, and believeth on Him that sent Me, hath everlasting life, and shall not come into condemnation; but is passed from death unto life. (John 5:24)
    Then said they unto him, What shall we do, that we might work the works of God?
    Jesus answered and said unto them, This is the work of God, that ye believe on him whom he hath sent. (John 6:28,29)
    And brought them out, and said, Sirs, what must I do to be saved?
    And they said, Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house. (Acts of the Apostles 16:30,31)
    But he answered and said unto him that told him, Who is my mother? and who are my brethren?
    And he stretched forth his hand toward his disciples, and said, Behold my mother and my brethren!
    For whosoever shall do the will of my Father which is in heaven, the same is my brother, and sister, and mother. (Matthew 12:48-50)
    And this is the Father’s will which hath sent me, that of all which he hath given me I should lose nothing, but should raise it up again at the last day.
    And this is the will of him that sent me, that every one which seeth the Son, and believeth on him, may have everlasting life: and I will raise him up at the last day. (John 6:39,40)
    And this is the Father’s will which hath sent me, that of all which he hath given me I should lose nothing, but should raise it up again at the last day.
    And this is the will of him that sent me, that every one which seeth the Son, and believeth on him, may have everlasting life: and I will raise him up at the last day. (John 6:39,40)
    Those things, which ye have both learned, and received, and heard, and seen in me, do: and the God of peace shall be with you. (Philippians 4:9)

    What’s next?
    And this gospel of the kingdom shall be preached in all the world for a witness unto all nations; and then shall the end come. (Matthew 24:14)
    He that believeth and is baptized shall be saved; but he that believeth not shall be damned. (Mark 16:16)

    The Second Coming of Jesus Christ:
    Which also said, Ye men of Galilee, why stand ye gazing up into heaven? this same Jesus, which is taken up from you into heaven, shall so come in like manner as ye have seen him go into heaven. (Acts of the Apostles 1:11)
    The sun shall be turned into darkness, and the moon into blood, before that great and notable day of the Lord come… (Acts of the Apostles 2:20)
    And then shall appear the sign of the Son of man in heaven: and then shall all the tribes of the earth mourn, and they shall see the Son of man coming in the clouds of heaven with power and great glory.
    And he shall send his angels with a great sound of a trumpet, and they shall gather together his elect from the four winds, from one end of heaven to the other. (Matthew 24:30,31)
    For the Lord himself shall descend from heaven with a shout, with the voice of the archangel, and with the trump of God: and the dead in Christ shall rise first… (1 Thessalonians 4:16)
    And have hope toward God, which they themselves also allow, that there shall be a resurrection of the dead, both of the just and unjust. (Acts of the Apostles 24:15)
    And many of them that sleep in the dust of the earth shall awake, some to everlasting life, and some to shame and everlasting contempt.
    And they that be wise shall shine as the brightness of the firmament; and they that turn many to righteousness as the stars for ever and ever. (Daniel 12:2,3)
    But go thou thy way till the end be: for thou shalt rest, and stand in thy lot at the end of the days.(Daniel 12:13)

    When the Son of man shall come in his glory, and all the holy angels with him, then shall he sit upon the throne of his glory:
    And before him shall be gathered all nations: and he shall separate them one from another, as a shepherd divideth his sheep from the goats:
    And he shall set the sheep on his right hand, but the goats on the left.
    Then shall the King say unto them on his right hand, Come, ye blessed of my Father, inherit the kingdom prepared for you from the foundation of the world:
    For I was an hungred, and ye gave me meat: I was thirsty, and ye gave me drink: I was a stranger, and ye took me in:
    Naked, and ye clothed me: I was sick, and ye visited me: I was in prison, and ye came unto me.
    Then shall the righteous answer him, saying, Lord, when saw we thee an hungred, and fed thee? or thirsty, and gave thee drink?
    When saw we thee a stranger, and took thee in? or naked, and clothed thee?
    Or when saw we thee sick, or in prison, and came unto thee?
    And the King shall answer and say unto them, Verily I say unto you, Inasmuch as ye have done it unto one of the least of these my brethren, ye have done it unto me.
    Then shall he say also unto them on the left hand, Depart from me, ye cursed, into everlasting fire, prepared for the devil and his angels:
    For I was an hungred, and ye gave me no meat: I was thirsty, and ye gave me no drink:
    I was a stranger, and ye took me not in: naked, and ye clothed me not: sick, and in prison, and ye visited me not.
    Then shall they also answer him, saying, Lord, when saw we thee an hungred, or athirst, or a stranger, or naked, or sick, or in prison, and did not minister unto thee?
    Then shall he answer them, saying, Verily I say unto you, Inasmuch as ye did it not to one of the least of these, ye did it not to me.
    And these shall go away into everlasting punishment: but the righteous into life eternal. (Matthew 25:31-46)
    And if any man hear my words, and believe not, I judge him not: for I came not to judge the world, but to save the world.
    He that rejecteth me, and receiveth not my words, hath one that judgeth him: the word that I have spoken, the same shall judge him in the last day. (John 12:47,48)

    For whom it is written:
    Then Peter said unto him, Lord, speakest thou this parable unto us, or even to all?
    And the Lord said, Who then is that faithful and wise steward, whom his lord shall make ruler over his household, to give them their portion of meat in due season?
    Blessed is that servant, whom his lord when he cometh shall find so doing.
    Of a truth I say unto you, that he will make him ruler over all that he hath.
    But and if that servant say in his heart, My lord delayeth his coming; and shall begin to beat the menservants and maidens, and to eat and drink, and to be drunken;
    The lord of that servant will come in a day when he looketh not for him, and at an hour when he is not aware, and will cut him in sunder, and will appoint him his portion with the unbelievers.(Luke 12:41-46)

    Eyewitness accounts:
    For we have not followed cunningly devised fables, when we made known unto you the power and coming of our Lord Jesus Christ, but were eyewitnesses of his majesty. (2 Peter 1:16)
    For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures;
    And that he was buried, and that he rose again the third day according to the scriptures:
    And that he was seen of Cephas, then of the twelve:
    After that, he was seen of above five hundred brethren at once; of whom the greater part remain unto this present, but some are fallen asleep.
    After that, he was seen of James; then of all the apostles. (1 Corinthians 15:3-7)
    Even as they delivered them unto us, which from the beginning were eyewitnesses, and ministers of the word… (Luke 1:2)

    The prayer of Jesus Christ:
    I pray for them: I pray not for the world, but for them which thou hast given me; for they are thine. (John 17:9)
    I pray not that thou shouldest take them out of the world, but that thou shouldest keep them from the evil. (John 17:15)
    Neither pray I for these alone, but for them also which shall believe on me through their word… (John 17:20)

    Why is important?
    For the eyes of the Lord are over the righteous, and his ears are open unto their prayers: but the face of the Lord is against them that do evil. (1 Peter 3:12)

    Behold, I come quickly: hold that fast which thou hast, that no man take thy crown. (Revelation 3:11)

    Jesus saith unto him, Thomas, because thou hast seen me, thou hast believed: blessed are they that have not seen, and yet have believed.
    And many other signs truly did Jesus in the presence of his disciples, which are not written in this book:
    But these are written, that ye might believe that Jesus is the Christ, the Son of God; and that believing ye might have life through his name. (John 20:29-31)

    Because Man shall not live by bread alone, but by every word that proceedeth out of the mouth of God. (Matthew 4:4)

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  128. JassicaBob

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