Why Do You Need an Umbrella Policy?

An Umbrella policy provides liability coverage beyond the limits of your auto and and homeowner's insurance.  An Umbrella policy kicks-in once you have exhausted the liability coverage under your home or auto policy.  For example; if you have a homeowner's policy with a $300,000 limit of liability and a $1,000,000 umbrella policy, you would have a total of $1.3 million in liability coverage.  Why would you need so much coverage you ask?  Even if your net worth is less than $1,000,000, in the event of a claim resulting in a lawsuit you could be ordered to pay based on your current assets as well as future earnings. An umbrella can also cover your defense costs.

Parents of youthful or inexperienced operators may want to consider purchasing an Umbrella policy.  Have an inexperienced driver in your household can substantially increase your liability exposure.  As a parent and policyholder you can be held liable for injuries or property damages caused by your teenage driver.  It's important to have adequate coverage for a serious accident.

An Umbrella policy can be an inexpensive way to cover your assets.  The cost of an Umbrella policy can vary per risk, however someone who owns one home and two cars might pay an average of $150 for a $1,000,000 Umbrella policy.  Additional limits of $2,000,000 and up are available with most carriers for an additional premium of approximately another $100 per million.  If you break the annual premium down $12.50 per month seems like a small price to pay for an additional $1,000,000 worth of liability coverage.

Spring Property Maintenance Tips

Spring thunderstorm season is already here, but it’s not too late to prepare.  Each year, properties are damaged by thousands of thunderstorms, with the most sever occurring storms during the spring and fall.  These storms can produce damaging winds, large hail and tornadoes. 

You may have noticed increases in insurance costs on your home coverage recently.  Over the past few years, increased storm activities have accounted for these increased costs.  Insurance carriers pay out millions in property losses every year resulting in higher costs for insureds.

Falling trees and limbs cause millions of dollars in damage alone each year by damaging homes and cars and downing power lines.  Windstorms are the leading cause of such damage and injury.

Homeowners represent the first line of defense but often times, neglect taking their surroundings into consideration when trying to protect or prepare their property from storms.  It is important to regularly examine trees and check for damage or other troubling signs.  Good pruning can prevent many problems, but over pruning can weaken a tree.

Some potential problems are easy to spot.  These include:

•                 Cracks in the trunk or major limbs
•                 Hollow and decayed trees
•                 Branches hanging over the house near the roof
•                 Trees that look one-sided or lean significantly
•                 Limbs in contact with power lines
•                 Mushrooms growing from the bark, indicating decayed or weakened stem
•                 V-shaped forks rather than U-shaped ones.  V-shaped are more likely to split
•                 Crossing branches that rub or interfere with one another

Good pruning can help to prevent many problems. Remove diseased, damaged or dead plant parts helps to limit the spread of harmful insects and disease as well as reduce the possibility of future storm damage.  Always check local tree regulations prior to pruning.

If it is time for a new roof, replace your old roof coverage with new asphalt shingles making sure they have a Class 4 rating under Underwriters Laboratories’ (UL) 2218 standard.  A class 4 rating tells you a sample of the product did not crack when hit twice in the same area by a two-inch steel ball. 

What does this mean?  This means added protection when Hailstorms hit.

When a hailstorm strikes, if you are indoors, stay there.  Because large pieces of hail can shatter windows, close your drapes, blinds or window shades to prevent the wind from blowing broken glass inside.  Stay away from skylights and doors.

If you are outside, move immediately to a place of shelter.

Be sure to check the exterior of your home for loose siding, gutters and roof shingles.  Be sure to repair to avoid additional damage in the future.  It is always recommended to have a contractor review and make the necessary repairs to be sure they are properly corrected.

For additional repair and safety information, review the Insurance Institute for Business & Home Safety at www.disastersafety.org.

Never Use Cruise Control on a Rainy Day

Cruise control is designed for normal road conditions.  It doesn't know when the pavement is slippery.  Under slick conditions, you need to be in complete control and monitoring the road conditions.  You're more likely to notice hydroplaning if you're not relying on the cruise control.  In some cars, it is possible that the wheels may actually spin faster when in or engaged in cruise control and the car hits a slippery spot.  When the tires make contact with the firm road again, the car can skid or lose control.

On most cars, the cruise control is disengaged by tapping the brake.  In an emergency situation, this adds a fraction of a second to your response time as well as the risk of the braking action itself causing a loss of control on a slippery road.

For all your insurance needs contact Mars Insurance Agency or visit our website at www.marsinsurance.com