December 26, 2012

Other Personal Insurance

family with personal insuranceNeed Additional Insurance for Your Personal Property?

In addition to a standard home insurance and auto insurance policies, our agents also offer a range of other products and solutions that can be tailored to your specific needs:

Personal Umbrella Insurance

This is a type of plan that provides coverage when your home insurance or car insurance just isn’t enough. For example, you get in a car accident that hospitalizes the other driver, a lawyer, for 3 months. While your policy limit of $200,000 just barely covers the initial damages to his vehicle and hospital bills, he may then sue you for wage loss for the 3 months that he was away from work.

umbrella-insuranceAt this point, your personal assets will be at stake and you could lose your bank account and personal property. Personal Umbrella Protection (PUP) provides the additional resources you need in case of this type of serious accident. It is usually available in increments of $1 million or $5 million.

Some of the other benefits of getting PUP include:

  • Coverage while you are out of the country
  • Coverage for claims of slander, libel, or defamation of character
  • Coverage for attorney fees in personal injury claims

Fine Arts, Jewelry and Other Special Collections Insurance

This covers loss and damage to paintings, jewelry, sculptures, collectibles and other valuable pieces. The art may be in your personal collection, on loan to you, in storage, or on loan to others to be covered.

While this should be considered for personal insurance, it is also important for museums, historical societies, colleges, jewelers, and art dealers to have this type of specialty insurance.

Earthquake & Flood Insurance

Many home insurance policies will not cover earthquake or flood insurance, so you will need to purchase that type of insurance separately.

  • Earthquake: Californians should especially consider this type of insurance as there are many earthquakes throughout the state. It will cover the cost of repairing or rebuilding your home, personal belongings, and temporary housing while your home is being fixed.
  • Flood: This refers to a natural disaster and is separate from water damage. Flood insurance covers your structure and personal belongings from flood loss. Usually, there is a 30 day waiting period after you purchase the insurance before coverage kicks in.

Recreational Insurance

insurance for boatOutdoor enthusiasts may need extra insurance to cover all of their fun activities. If you own any of the following vehicles, then talk to our insurance specialists about the type of coverage that you need:

  • Off-Road vehicles like snowmobiles, ATVs, dirt bikes, and even golf carts
  • Boat
  • RV
  • Personal watercraft like Jet Skis, Wave Runners, or Sea Doos

Contact Cornerstone at 888-840-4020 to talk to an agent today! As your trusted insurance specialists in Glendale, we will advise you on right policies for your lifestyle.