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Insurance FAQs

What is umbrella liability insurance?

“Umbrella liability insurance” is liability insurance that sits on top of your homeowner’s (or renter’s) and auto insurances, like an umbrella.  It raises your coverage to the purchased amount, such as one million or five million dollars.  Umbrella liability insurance is also called “personal catastrophic” insurance.

Should I negotiate with the insurance company myself?

You may like your local insurance agent and get a kick out of insurance television commercials, but it is important to remember that your agent has little control over decisions made by the insurance company.  At the end of the day, the insurance company is a business, just like any other.

Insurance decisions can be very complicated.  It is reasonable to report an accident or a claim to your insurance company and you should be honest when dealing with your insurance company.  If you have questions or are unsure about what the insurance company is doing, or why it is doing it, you should seek the advice of a lawyer, or other qualified professional, that deals with insurance companies regularly. 

If you’ve been injured in an accident, consult with a personal injury attorney (i.e. negligence attorney or accidents and injuries attorney.) If you have an insurance claim denied, consult with an insurance law attorney.

Will my homeowner’s insurance cover my flooded basement?

If a pipe broke and flooded your basement, your homeowner’s insurance may cover the expenses of repairing the damage; however, if the water came from outside your house such as in the case of a storm or flooding, your homeowner’s insurance will most likely not pay.

Flood insurance is required to cover damage from floods like this; but its coverage is very limited. Be sure you understand the terms and coverage before you make a purchase. For example, flood insurance may not cover underground basements or the policy may require your neighbors to have also experienced flooding for your claim to be paid.

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