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    Personal Insurance Blog

    Why do you need an Umbrella Policy?

    Posted by Gordon Atlantic Staff

    Fri, Jan 20, 2017 @ 11:22 AM

    ExcessliabilityandumbrellainsuranceAndrewGGordonInc.jpg The society we live in is very litigious, and the likelihood of getting involved in a lawsuit is higher than ever. Therefore, it is important to protect yourself against claims.  Umbrella Policies are meant to do just this.  

    Nobody plans on a claim, but you want to be sure that you have enough coverage to protect your assets.  A financial advisor can determine how much that might be.

    There are a few different policies that serve as protection in case of a claim. For your auto insurance, you can get Optional Bodily Injury limits which usually allows for $250,000 per person/$500,000 per accident.  For your homeowners or renters insurance, you can purchase a higher Liability limit (at least $500,000 although $1M is only slightly more).  These options are within your current policy.

    Above that, you can purchase an Umbrella policy for limits starting at $1M.  This policy offers you additional liability on your Auto & Home policies.  Most $1M Umbrellas can be purchased for $300 +/-  for a year.  The price goes up or down depending on what exposures you have.  If you have a home, a car, a boat or a snowmobile, an Umbrella Policy is worth looking into.  Although it seems like a law suit or a bad car accident could never happen to you, they can.  These policies are worth looking into.

    Call us for an account review or for a financial advisor recommendation.  It is our goal to find you a policy that has the perfect balance of good coverage and a good price to make sure you are protected right.

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    Tags: personal excess liability coverage, personal umbrella

    Pool Laws and Insurance

    Posted by Gordon Atlantic Staff

    Tue, Aug 19, 2014 @ 11:15 AM

    Insure your pool with a personal umbrella liability homeowners policy from Andrew G Gordon IncDo you already have a swimming pool, or are you thinking about getting one? Make sure you're aware of the laws and risks that come with pools. Abiding by the state laws for private pools not only protects the lives of those using the pool, but also ensures that you avoid fines from your homeowners insurance company or the Massachusetts State Board of Building Regulations. 

    Pools must be surrounded by a fence four feet or taller, with a self-closing gate. Doors from your house leading to the pool must be alarmed. Swimming pools must be at least 20 feet away from the borders of the property lot, and they shouldn't be near your septic tank. 

    Did you know that even inflatable pools you buy from Wal-Mart need a building and electrical permit (if they hold 24 or more inches of water in height)? You and your kids should have your outdoor fun, but be careful and contact your city or town hall. 

    To save on your energy bill for your pool, get a solar cover to heat the pool for free and prevent evaporation. Keep your filters clean so that the pool runs smoothly.

    Insure your pool by increasing your liability and home insurance. Pools count as "other structures" under your home insurance policy, which are typically given 10% of coverage for the amount written for your home (if your homeowner's policy is $150,000, then your other structures are covered with $15,000. If this isn't enough, increase it with your home insurance agent). 

    Contact us with any questions about your homeowner's insurance or for a personal umbrella policy quote. Read some more about swimming pool laws and insurance at insureme.com and coverhound.com (thanks to them for supplying much of the information in this article). Have a safe and happy summer!

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    Tags: home, insurance, laws, massachusetts, homeowners, pool, swimming, personal umbrella

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