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Cornerstone Insurance Agency Blog: 8_2011

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An Umbrella policy protects against liability lawsuits. In these days when people can win a huge lawsuit over being surprised that coffee is hot, serious liability protection is more important than ever. Without the proper coverage you could see your entire life’s work evaporate in one gut-wrenching bang of a gavel.

You may need a Personal Umbrella policy if you:

  • Own or drive a car. In one study by Gen Re (a Berkshire Hathaway company), serious auto accidents were almost 90% of total personal umbrella losses. In just one example, a driver talking on his cell phone crashed into a motorcycle, causing brain and organ damage to the motorcycle passenger, resulting in a settlement of $2.9 million.
  • Own a rental property. Rental properties can be great sources of income, but they can also pose big exposures. In just one example, two children died in a fire after playing with matches at a rental property, resulting in a $1.1 million settlement.
  • Own a dog. Texas is one of the more owner-friendly states and follows a “one bite rule” that means legal liability for a dog bite requires that a) the owner knew the dog had bitten someone previously or had the dangerous propensity to bite a person, b) the bite was caused by the negligence of the dog owner or handler, c) the bite was caused by a violation of a leash or other animal control law, or d) the injury was caused intentionally by the person handling the dog. Nevertheless, dog bite liability claims can be very severe, with one woman who suffered wounds from a dog bite receiving a verdict of $1.5 million.
  • Use a computer or cell phone. In 2007 there were 106 lawsuits against people posting statements on the internet, and the number of these lawsuits has been increasing rapidly. Suits and claims from bullying related to cell phone texts and pictures are also becoming more common. Even if you win a case like this, defending against it without insurance to cover legal fees can be financially catastrophic.
  • Want the best value in liability coverage. iMGA now offers excellent Personal Umbrella coverage with limits from $1 million to $5 million, underwritten by an A.M. Best A Rated A size XV insurance company. Limits that large can frequently be added for less than the liability cost just on a personal auto policy, and also includes coverage for exposures not included in the either auto or homeowners insurance policy.

If you are a Texan who would like this valuable protection - Cornerstone Insurance Agency 713-948-0707

Posted 4:43 PM  View Comments

October 8th & 9th 2011

Come Jump For The Rose with us at Skydive Spaceland! Not only are we setting skydiving records (JFTR ladies hold the National Record for Sequential Skydiving and the Women's Texas State Record), we are raising money for a great cause and having a great time doing it!

This is a fundraiser to support The Rose, a facility that helps those that don't have health insurance with mammograms and breast cancer treatments. They helped a fellow skydiver (actually, saved her life) and now it's time to give back (see Marian Spark's tell her story on Great Day Houston, September 19th). Your registration fee is a donation to The Rose and with your total collection of only $250, you are helping to save multiple lives! You may donate to Jump For The Rose (a 501c3 Charity) at our website through Paypal.

Jumping starts first thing Saturday morning with The Women's Texas State Record, along with organized Bigways for the Men. Raffle tickets for cool skydive gear and other fun stuff will be for sale throughout the weekend and the Anvil Brothers will be cooking and providing live music Saturday night. 

______________________________We Need Your Help___________________________
   Donations/Raffle Items: (Kirsten Hardmant)
       To Register:
       Like us' on Facebook at "Jump For The Rose"
We look forward to seeing everybody there!
Skydive ~ Have Fun ~ Give Back

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
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