The way to Choose Personal Liability Insurance

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The way to Choose Personal Liability Insurance:

The way to Choose Personal Liability Insurance key Person Insurance

Learn what personal liability insurance covers:

Learn what personal liability insurance covers Injury to others occurring in your home or at other properties you own (in excess of homeowners' insurance). Injury to others resulting from automobile accidents (in excess of auto insurance) Damage to the property of others. Lawsuits in which you are found liable for libel, slander, malicious prosecution, false arrest or imprisonment, shock or mental anguish Court fees for lawsuits brought against you, including frivolous ones Bottrell Wealth

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Find out what is excluded Malpractice lawsuits (i.e. for doctors) Workers compensation (if one of your employees is injured on the job) Business liability insurance (including for businesses run out of your home) Damages caused intentionally. Bottrell Wealth

Choose personal liability insurance if there are risk factors on your property:

Choose personal liability insurance if there are risk factors on your property If you keep firearms in your home If gardeners or housekeepers are frequently on your property If you rent multiple properties to others If your property includes a pool, hot tub, or trampoline . Bottrell Wealth

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Select personal liability insurance if your lifestyle presents additional risks Owning a dog (probably the biggest risk, as it can hurt both people and property) Having children visit your home often Hosting parties where alcohol is served Bottrell Wealth

Protect your assets:

Protect your assets If your assets (such as your home and/or vehicles) aren't valued in excess of your current coverage under other policies, you probably don't need to bother. Generally, your insurance should be roughly equal to your net worth Assets pledged as collateral to a lender, like your home or car, are not normally accessible to plaintiffs unless you own substantial equity in them. In short, if you don't really own anything this is probably not vital insurance to purchase. Bottrell Wealth

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Consult a financial advisor A financial advisor can offer you insights about whether this, or some other type of policy, is the best fit for you, as well as how much insurance to buy. Financial advisors known as Chartered Financial Consultants typically focus on insurance matters. Bottrell Wealth

Calculate your net worth:

Calculate your net worth Cash in bank accounts Stocks and bonds Real estate Cars, boats, and other vehicles Any other highly valuable possessions Loans, credit cards, and other debt Bottrell Wealth

Look up policies from different companies:

Look up policies from different companies Before choosing a policy, you'll want to consider your options. Most people who buy umbrella insurance buy it from a company they already have a policy with, so your auto or homeowner's insurance company is a good place to start. Most insurance companies will include general descriptions of their policies on their websites. Pull up several for comparison. Bottrell Wealth

Compare rates and deductibles:

Compare rates and deductibles Bottrell Wealth You should be able to get up to a one million dollars in coverage for about 500 dollars a year. You should also look into your deductible. Since this insurance usually only kicks in after you have already exhausted the resources provided by other policies, you'll want as low deductible as possible, since you'll likely have already paid one if you are in a situation where you need to use your umbrella policy.

Bottrell Wealth can assist!:

Bottrell Wealth can assist! Wealth creation Financial Planning Retirement Planning Bottrell Wealth

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Place your screenshot here Bottrell Wealth Whether you are looking for financial security, wishing to invest in shares, work toward a steady stream of income, or are planning for retirement – Bottrell Wealth can assist! Personal insurance Bottrell Wealth

THANKS!:

THANKS! Any questions? You can find us at hello@bottrellwealth.com.au www.bottrellwealth.com.au Bottrell Wealth

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