Real Stories
Being uninsured or underinsured can lead to major financial and personal issues. Every day, people lose their incomes, homes, vehicles and savings because they aren't properly insured. A trusted advisor can help you avoid disaster and enhance piece of mind. Here are some of the most common gaps we see in coverage.
Umbrella Coverage
Accidents by definition are not planned and typically happen when you least expect them. Every day cars crash, visitors slip on icy driveways, bones are broken on backyard trampolines and tree limbs fall on a neighbor's house. People and property get hurt. And when they do they often want to blame somebody, and take that somebody to court ... for lots and lots of money.
At Payne Financial Group, our professional advisors know these possibilities - and how to guard you from them with an umbrella of protective liability insurance above your auto and homeowner's policies. Let us make sure you've got the right coverage for your needs, today and every day. Don't think that just because you have car insurance you're fully protected if taken to court for a car accident or that your homeowner's policy will make it all right if a delivery person trips and falls on your sidewalk. Let us make sure.
Real stories to consider:
The premises liability lawsuit by Carol Ann Hullinger against her neighbors and (former?) long-time friends is back in court after an October 24, 2007, Iowa Court of Appeals verdict. Carol severely broke her right ankle when playing on her neighbor's trampoline during a July 2003 barbeque party.
Christi Frietag is pursuing her $33.5 million lawsuit against her youth pastor and others after she landed on her neck in a 2006 backyard trampoline accident when bouncing with the pastor and a child. The accident occurred at Frietag's own home. Now a 20-year-old quadriplegic, Frietag filed suit in Multnomah County Circuit Court July1, 2008.
From 2000 through 2005, there were 531,378 trampoline-related accidents requiring emergency room visits - an average of 88,563 per, according to a Rhode Island Hospital study published in ScienceDaily July 9, 2007. (The study found that 95 percent of all these accidents happened on home trampolines.)
There are entire Web sites devoted to finding personal injury attorneys - including entire sites advertising "recreational accident attorneys." And, note that many standard homeowner's liability policies specifically do not cover home trampolines. So what's going to protect you?
Or, there's the car accident you cause that sends the other driver and her child to the hospital. Even if you settle out of court, will your auto insurance be enough? In other words, if you settle for $800,000 and your insurance pays $300,000, where do you come up with the other $500,000?
Or, snow, wind, ice, old age or a combination cause a large piece of your beautiful shade tree to land on - and in? - your neighbor's roof or car. This may or may not be covered under your homeowner's policy - if it is, will it be enough to pay the result of a lawsuit? And if not, how will you pay any judgment against you?
Let us help you put an umbrella of appropriate liability protection over your home and auto policies to ensure that that oak tree or car accident doesn't cost you your home, your future earnings, your retirement savings, your estate.
Umbrella Coverage
Homeowners Coverage
Auto and Watercraft Coverage
