enterscope
Expert
- 48
Say I already have Home, Auto, Pet, Family, Life, Health, Travel and Business Insurance...
How do I know I am fully insured?
How do I know I am fully insured?
Is There Such a Thing As Total Insurance?
- Thread starter enterscope
- Start date
- 15,319
Do you have an umbrella policy, disability? Wills/Trusts set up?
- 11,997
Do you have a good inland marine policy?
Depending on the age, LTCi and/or DI seem to be the most glaring omissions...
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Are you saying that I need to insure my drunken uncle cruising the lake on my seadoo? I guess I need a big umbrella too....
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Are you saying that I need to insure my drunken uncle cruising the lake on my seadoo? I guess I need a big umbrella too....
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What is family insurance? Maybe I'm not familiar with that term.
LTC and umbrellas are big, look at DI, too, that is an important one since it affects the ability to pay the other ones. MOST people don't hit the problem of being over-insured on life insurance. The fact that you have a business means it will be EXTREMELY difficult to be over-insured for life- buy-sell, key employee insurance, etc. etc.
There is no such thing as being TOTALLY insured. I think before going out looking for more insurance, make sure the insurance you have now is adequate. Increase the replacement cost provisions and value on the home (after all, the replacement cost estimators are the MINIMUM the insurance company thinks it will cost to replace the home), make sure your items have the appropriate riders and inland marine policies (did you know that homeowners have sub-limits on items that are STOLEN from the home???), try to go for open-peril losses on contents, identity theft and personal injury, etc. etc.
Umbrella can do two things depending on the type: 1) add limits above and beyond your current policies and (optional) provide more robust coverage than the home or auto.
Stop asking for more types and ask for more coverage!
- Thread starter
- #7
enterscope
Expert
- 48
I almost included Food and After-life insurance in that list. What about insurance insurance? Is there a way to only pay for insurance and have all your other expenses paid for by your insurance? You would think that is what Life insurance would be. Anything in your life that you need, and your life insurance will cover it.
If you die, then After-life insurance will take care of everything while you're gone.
