FAQs Archive - Van Dyke Rankin Insurance

Q: What is an umbrella liability policy?

If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, paying for judgments against you and your attorney’s fees, up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That’s what a personal umbrella liability policy provides. An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. It will also cover you for things such as libel and slander. For about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $75, and $50 for every million after that. Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have $250,000 or more of liability insurance on your auto policy and $300,000 of liability insurance on your homeowners policy before selling you an umbrella liability policy for $1 million of additional coverage.

What other types of business insurance coverage are there?

Other Types of Business Coverages 1. Errors and Omissions Insurance/Professional [...]

By vandkye.admin.igm.vlqc98r|2023-05-04T10:39:52-06:00May 4, 2023|Business Insurance|Comments Off

What types of insurance do I need for my business?

Most small businesses need to purchase at least the following [...]

By vandkye.admin.igm.vlqc98r|2023-05-23T13:22:38-06:00May 4, 2023|Business Insurance|Comments Off

What are my health insurance choices?

There are essentially two types of health insurance plans: indemnity [...]

By vandkye.admin.igm.vlqc98r|2023-05-04T10:37:52-06:00May 4, 2023|Health Insurance|Comments Off

What are the different types of permanent policies?

There are two basic types of term life insurance policies—level [...]

By vandkye.admin.igm.vlqc98r|2023-05-04T10:37:08-06:00May 4, 2023|Life Insurance|Comments Off

What is an umbrella liability policy?

If you are ever sued, your standard homeowners or auto [...]

By vandkye.admin.igm.vlqc98r|2023-05-04T10:36:04-06:00May 4, 2023|Property Insurance|Comments Off

What is in a standard homeowners insurance policy?

A standard homeowners insurance policy includes four essential types of [...]

By vandkye.admin.igm.vlqc98r|2023-05-23T13:23:58-06:00May 4, 2023|Property Insurance|Comments Off

What is homeowners insurance?

homeowners insurance policy provides financial protection against disasters. A standard [...]

By vandkye.admin.igm.vlqc98r|2023-05-23T13:24:25-06:00May 4, 2023|Property Insurance|Comments Off

What is covered by a basic auto policy?

Your Auto Insurance Policy may include six coverages. Each coverage [...]

By vandkye.admin.igm.vlqc98r|2023-05-23T13:25:34-06:00May 4, 2023|Auto Insurance|Comments Off

What is auto insurance?

Auto Insurance protects you against financial loss if you have [...]

By vandkye.admin.igm.vlqc98r|2023-05-23T13:25:57-06:00May 4, 2023|Auto Insurance|Comments Off

FAQs

Since 1936, Van Dyke, Rankin & Co. has been helping people in Texas
find the insurance services that they need.

get in touch

FAQs

Since 1936, Van Dyke, Rankin & Co. has been helping people in Texas find the insurance services that they need.

get in touch

Since 1936, Van Dyke, Rankin & Co. has been helping people in Texas
find the insurance services that they need.