Resource Library - Umbrella Insurance

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Make sure you’re covered! Facts about umbrella insurance

Umbrella insurance protects you when the unexpected happens by providing protection above and beyond your existing homeowners and auto insurance policies. Learn more about why you should consider umbrella insurance, what is covered, and who can participate. 


Smart Money Move #4: Protect your investments...big and small

It takes time and money to accumulate the things you have. You've worked hard for them—be sure you have adequate insurance coverage.


Umbrella Insurance: Are you covered?

Every year in the U.S., 15 million civil lawsuits are filed for everything from minor fender benders to crashes that result in death or medical bills exceeding $1 million. In 55% of these cases, the defendants lose and must pay


The truth about umbrella coverage

Myths about umbrella insurance coverage often prevent people from making this important protection part of their financial plan. Here’s what you need to know.


Personal Umbrella Insurance

Do you need additional liability protection? We have answers to some commonly asked questions.


Discounts

Our homeowners discount programs can save you money on your insurance premium. Review your coverage regularly with one of our Member Service Consultants to be sure you’re receiving all of the discounts for which you qualify. Auto/Home Discount  New Home Discount  Renewal Discount  Home Alarm System Discount  Smoke Alarm Discount  Renovation Discount  Another way to save money. Increasing your deductible can reduce your premium costs without compromising your coverage. Budget-friendly payment options  You can pay your premiums annually, semiannually, quarterly, or use our popular automatic monthly payment option called SmartPlan. If you are employed by a district participating in Trust Advantage™, you can arrange payroll deduction to pay your premiums. Both SmartPlan and payroll deduction provide you with smaller, easier-to-manage payments, and at no additional cost to you.  


Are you wisely protected?

Insurance consumers fall into one of three categories—the Wisely Protected, the Exposed and Unaware, and the Unintentional Over-Spender. While nearly everyone THINKS they are Wisely Protected, few actually are. If you’re like most people who treat auto and homeowners insurance like a commodity—or one-size-fits-all—you risk leaving yourself (and your family) exposed to financial loss or purchasing coverages you don’t need. Here's how to get wise with insurance.


Make sure you’re covered! Facts about umbrella insurance

Mark Blog Photo"A young woman ran a stop light and collided with another car, killing an adult and child. The courts found her negligent and ordered her to pay the “wrongful death” limits in Wisconsin of $850,000. The woman had an auto policy with liability limits of $500,000 per claim, leaving her with an uncovered loss of $350,000. If this woman would have had a personal umbrella policy, it would have paid the remaining $350,000. Without it, she will have to pay it from her personal assets..."


Five critical times to review your insurance

Make sure your insurance is keeping up with your life! We share a few critical events that should trigger a review of your policies.


Keeping yourself covered with umbrella insurance

Every year in the U.S., 15 million civil lawsuits are filed for everything from minor fender benders to crashes that result in death or medical bills exceeding $1 million. In 55 percent of these cases, the defendants lose and must pay damages. Would you be covered if you were found liable?


What to do with your tax return

Eric SchwartzDid you receive a tax refund this year? If so, here are six financially smart ways to spend your tax refund:

1. Pay off any high interest debt. Use our credit card pay off calculator to see what it will take to pay off your balance.

2. Add to your retirement savings. Add to your current retirement savings plan or open an IRA (Roth or traditional). Unsure which one? Use this tool to determine which IRA may be right for you.

3. Start saving. Open an Edvest or other 529 college savings plan for your kids or grandkids. Build up your emergency fund. Start a money market account with a higher interest rate to save for a vacation, a new car, or home remodel. Whatever your goal, you’ll feel better knowing you have a head start on your savings. Our savings calculator can help you find out what it will take to reach your goal.


Play it safe at home

We don't often think about people getting seriously injured in our home but it happens. Take a look at your home with fresh eyes to prevent personal injuries and avoid a potential claim. Some common sense precautions and proper insurance will help keep you covered.


Coverages

If I already have liability protection on my auto and home insurances, do I really need an umbrella policy too?  Is an umbrella policy only for the wealthy?Many people believe that only wealthy people need this type of insurance. This is simply not true. The risks are real. The liability coverages on your auto and ho


Take the risk out of Halloween with proper insurance coverage

Costumes, decorations, treats, and sometimes tricks—these things make Halloween a favorite holiday. But this widely celebrated day of ghosts and goblins also has the potential for costly mishaps. As homeowners, renters, and motorists, consider the important role your insurance plays in protecting you and your finances in the event the unexpected happens.


Slippery sidewalks: Not funny

Mark Blog PhotoSlips and falls may be hilarious when part of your favorite sitcom, but in real life it’s no laughing matter. A tumble on snow or ice can cause serious injuries.

As a homeowner, it’s your responsibility to keep your property safe. Removing snow and ice from your property as soon as possible will help prevent visitors from injuring themselves on slippery walkways, stairs, or entryways. If someone is injured, you may be held liable for their medical expenses, lost wages, and even pain and suffering. Your homeowners insurance offers protection against financial loss for claims, but preventing a claim in the first place is to your advantage. Many companies will raise rates or cancel policies depending on the situation.


Umbrella Insurance

What is an umbrella liability policy? Additional liability insurance (also called umbrella coverage) provides you with liability protection in addition to your existing auto and home insurance policies. You can purchase $1 million or more of additional liability coverage to protect yourself from catastrophic events


Wondering if you qualify for our insurance program in retirement?

As a Wisconsin public school employee, you are eligible to participate in our high-quality personal insurance program, which includes auto, home, condo, renters, flood, and umbrella insurances. Our insurance products have been tailored to meet your unique needs as a Wisconsin educator. However, if you’re retiring soon and are interested in our insurance products, plan ahead.


You can stick with us

Did you know that you can stay insured with us even after you leave your school job or retire? And your Member Benefits’ 403(b) and IRA accounts can remain with us whether you retire, change districts, or change professions?


FAQ

 


The best kept secret we’re not trying to keep

Umbrella insurance is one of the best kept secrets because many people assume their auto and home insurance offer them adequate protection. However, you may be surprised at the situations in which you may need umbrella insurance as well.


Life is like a box of chocolates…

“You never know what you’re gonna to get.” Words of wisdom from the character Forrest Gump and reason to make sure you and your family are adequately protected from the challenges that life can throw your way. If you haven’t reviewed your coverage lately, contact us for a free consult.


Need to take action on your insurance? We make it easy

Member Benefits makes it easy to take care of your insurance needs online. You can file a claim, update your policy, learn about your coverage, and more...whenever it's convenient to you. Here's a little summary of what you can find on our website to help you with your insurance needs.


More about staying safe with your pool

In last week's article, "Keeping it cool with a pool," we discussed how safety should be your cardinal rule. The Consumer Product Safety Commission recommends that you create a pool safety tool kit to have near your pool to ensure you are ready to respond if there is an incident. Here's what to include.


Summer comes, and summer goes

Let us answer your retirement savings questions and make sure your auto and home insurance is providing you and your family the protection you need.

Free summer financial planning consultations and insurance consultations fill up fast. Call now to schedule yours.


Take a closer look at your insurance coverage

An insurance consultation is a free service to Wisconsin public school employees.


Protect your investments...big and small [INFOGRAPHIC]

You may not have thought about it, but having adequate insurance coverage is an important part of your financial strategy. Here are a few tips to consider.


Act 14: Wisconsin Auto Insurance Law Changes

Wisconsin Act 14—the budget bill passed this summer—included insurance laws that essentially rolled back those enacted in 2009 as part of Act 28. The changes will take effect on November 1, 2011, and will impact all Wisconsin residents with automobile and umbrella policies.


The truth about umbrella coverage

Myths about umbrella insurance coverage often prevent people from making this important protection part of their financial plan. Here’s what you need to know.


Time to revisit your insurance coverage with the Midterm Policy Exam

If you’re insured by WEA Trust Member Benefits, you’re eligible for a Midterm Policy Exam.


Why you need umbrella insurance [INFOGRAPHIC]

Why you need umbrella insurance [INFOGRAPHIC]