According to Travelers, while there has been a decrease in the frequency of auto claims, there has also been a major increase in their severity. This may be due to higher speed collisions and increased driver distraction. For insureds, this means that the standard limits provided by auto alone are often not enough to protect their interests. To provide better protection for their automobile policy holders, Travelers offers umbrella coverage even for those with homeowners coverage elsewhere.
Some key points to keep in mind: <click here for actual claims scenarios>
More than 50% of claims involve attorneys
Anyone can be sued
When an attorney is involved there is a 10X greater likelihood of hitting underlying limits
$1 per day is the average cost of a $1 million umbrella policy
Umbrella coverage for your clients peace of mind.
Travelers offers umbrella with limits from $1 million to $10 million at competitive premiums. Even the max limit on an auto policy may not be enough to protect your client’s interests. These days umbrella coverage is a must. Traditionally, you may think of writing the umbrella through the homeowner carrier, but consider writing the umbrella with Travelers even when Travelers doesn’t write the home for great coverage at a great price.
For underwriting details, please contact:
Ken Roberts - ken@djcolby.com - 212-937-0021
Frank Kaplan - frank@djcolby.com - 212-937-0018
D.J. Colby Co., Inc. places personal lines coverage with multiple carriers. If you are having difficulty finding the right product for your insured’s needs, let us give you a hand.