UMBRELLA. TOTAL COVERAGE.
You're driving along and your car skids out of control. You crash into a very expensive car with a highly paid heart surgeon at the wheel. He's hurt so badly he cannot return to work. A jury awards him millions of dollars and you have to pay it. You're wiped out financially. The court takes your savings, goes after your home and, for decades, requires you to give up part of your salary.
"For some people such a nightmare
could never happen," says David
Sheehan, owner of Sheehan Farmers
Insurance. "They have an extra
insurance policy, known as umbrella or excess liability coverage, which takes care of their liability for the lawsuits and medical bills of the auto accident victim - or of the teenage guest who dives into the shallow end of the swimming pool or the deliveryman who trips on your front steps."
But interestingly, many people with
major assets either do not buy the extra coverage or do not buy enough. Some just don't know about umbrella coverage, which also pays for lawyers and other legal expenses. Others have heard of it but don't understand it. Still others decide that they do not want to pay for it, even though the cost is usually a fraction of the price of a typical package of home and auto insurance.
"You never think it's going to happen to you," says David "Personal injury lawyers are making money by suing people. If you don't have enough insurance you become personally liable. As a result, only 15 percent to 20 percent of clients buy umbrella coverage. Instead, they stick with
the $100,000, $300,000 or, in some cases; $500,000 in liability coverage that comes standard with the most widely sold home insurance policies.
Umbrella and excess coverage are extensions of home and auto insurance," says David. "Banks make people buy home insurance to get mortgages, and states require drivers to buy auto insurance. But no one mandates buying a policy that could turn out to be the most important part of your insurance package.
"David is a can-do kind of a guy who loves helping people. He takes pride in making life easier for his clients. He realizes that the subject of insurance can make people's heads spin. "Everybody needs insurance, but most don't understand all of the components of it. I'm going to do whatever it takes to make it easy for them," he says.
David Sheehan, along with his wife Janie and their son, Director of Operation, Austin, meets people's needs, and best of all, Farmers' premiums remain affordable even with their round-the-dock resources like its 24/7/365 Help Point claims service and that's before you take into account their "affinity discounts" for members of key professions. This includes teachers, nurses, doctors, engineers, first responders, active and retired military and others.
So if you want a concise-professional review of your coverage's-or if you just want to review your current rates-you'll definitely want to give David a call for insurance coverage that's as comfortable as a warm sweater on a cold day.