Ty,AustinBoy wrote:I signed up with the insurance company that I have my homeowners policy through.
It is a $2 million "umbrella policy" that covers 100% of legal expenses and judgements if I am sued for ANY reason.
I specifically asked if it would cover a self defense shooting and was assured it would.
It covers anyone in my household.
Very cheap as well.
Is this a good alternative?
Thanks
Ty
This troubles me a bit, but of course without seeing the fine print I certainly cannot seriously question it.
I would, however, suggest that you, and any others who think that an umbrella on one's homeowner's policy covers intentional acts, if you are sued for ANY reason, take a simple step. I, of course, do not know who "assured" you of this, but most often such assurances come from a salesman/broker, as contrasted with the "home office."
The simple step I propose would be to get this "assurance" in writing -- clear and unambiguous writing. That clear and unambiguous writing should be in the fine print of your homeowner's policy, but let me assure you on the basis of much personal experience, the fine print in insurance policies is seldom clear and unambiguous, and it is even less likely to have been read by the insured. I would seriously suspect that it is doubtful, in the extreme, that more than 10% of individuals read every single word of their homeowner's policy with understanding, even if they are provided with a complete copy, which is not always the case.
If one does not find it there in one's policy, then one should get it in writing from the person who gave that assurance, and then consider this individual's ability to respond personally to costs you might incur should you have been misled -- up to, in your case, $2 mil. plus your basic coverage which has the umbrella over it.
If you cannot get this assurance of coverage for intentional acts from whomever made this assurance to you, you will have learned something.
Again, Ty, I question neither you, nor the assurance you have been given, nor the credibility of the person giving you the assurance. But the rarity of such coverage, particularly when "very cheap," gives me great misgivings.
And a simple letter to whomever gave you this assurance will cost you no more than a few minutes of your time and 44 cents. Not getting that assurance in writing could cost you a lot more if you pull that trigger. Should you get this assurance in writing put it away in a safe place. Also, if you do get it, I would sure appreciate a PM identifying the insurance company. I might buy some coverage.
Respectfully,
Elmo