Do I Need Umbrella Insurance?
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- เผยแพร่เมื่อ 3 ต.ค. 2024
- Do I Need Umbrella Insurance?
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Umbrella’s are pretty cheap, I just buy a new one when mine breaks, no need for insurance!
😉
It is insurance.
I use ponchos.
I find mine in public areas
Lol!
Always buy Umbrella Insurance, never know when your gona leave it in a cab or it gets blown away
Ok so umbrella insurance clearly isn’t what I think it is. Like how a poop deck isn’t what it sounds like. Which is why I’m not allowed on a Disney Cruise anymore.
You need Umbrella insurance if you have a valuable collection of umbrellas.
Dad jokes are wonderful.
Reported.
@@Kablemodem Could come in handy if it become an attractive risk. E.g., a neighbor child comes to look at your collection of umbrellas and accidentally opens one and gets whacked in the eye and becomes blind in one eye.
Reading these comments made me realize I had no clue so many people didn't know what an umbrella policy is!
Yea first time hearing about it - that’s why I’m here - to financially educate myself!!
Who is here just curious about the title ?
I definitely am! The curiosity was enough!
@@blackworldtraveler3711 hi, I was just wondering why you choose to identify yourself as “black world traveler”. I just think it’s a way to separate everyone and use your ethnicity or race as identification. Just a thought.
, my homeowners/auto offered us an umbrella policy, they said it's much cheaper and covers you everywhere, among other addl protections. But they backed out when I disclosed we also have a vacant duplex, told me to give em a call once it's sold 😒
Umbrella insurance is way less than $200 a year. After getting injured by a very underinsured driver. I upped my auto insurance and bought umbrella insurance.
Well worth it, most people never have heard of it.
@Ivan Salazar That's wrong. It covers over and above your regular policy.
@Ivan Salazar Of course it doesn't - that's not what an umbrella policy is for. It covers over and above my home/auto policy if someone comes after me. That's what it's for. If someone falls on my sidewalk and the idiot wants to sue me, the umbrella policy covers me over and above my home policy.
Depends on what and who is being covered. Mine is $60 a month.
Umbrella insurance wouldn't cover you if someone hit you. It's a liability only. Meaning it only covers you if you caused damage to someone or something you don't own. It kicks in if the liability on your auto\home is exhausted first.
The best "umbrella Insurance" is an offshore asset protection trust (APT).
"Own nothing, but control everything". John D. Rockefeller
Are these trusts easy to setup?
Didn't mention that when you take out umbrella insurance it automatically increases ALL your premiums because when you need to utilize it you have to use all other coverages first. I cancelled ours because of that.
Good to know
I have one, but it didn't increase my policy premiums at all. But it is true it only covers what your other policy's don't. It's insurance for high dollar worst case incidents that would otherwise take everything you own.
You have to have the maximum limits for atleast auto not sure on home before you can purchase an umbrella.
The only thing Dave need to mention is many of you learn to read documents before signing them.
thats not exactly true. The umbrella insurer will require a certain amount of liability coverage from your basic auto and homeowners insurance. If you're carrying a minimum liability auto policy, you will certainly be required to increase those limits. But just buying umbrella insurance doesn't automatically increase your home and auto premiums. It didn't for my wife and I
Chris always practicing the abc’s of selling. I love it. Hopefully he gets a commission from the traffic he drives for Dave.
I’m just spit balling here but I doubt it.
That's true, i found Dave because of Chris.
Chris and his kids and his grandkids are set for life, i don't think they are worried about commission
When you say "worried about" I interpret that to mean "need".
It doesn't matter if you need it or not. If you earned it, you earned it.
Buying an umbrella policy is all dependant on who you are and what you do.
This insurance stuff gets tricky. Sometimes it’s hard to know what’s worth covering vs when someone is just trying to upsell you.
It's nothing complicated.
You're the one who is supposed to know your assets and your net worth.
@@justinacase2623 That makes sense but I’m not referring to just life insurance. I’m including business ventures. There is always some guy trying to convince me I need more insurance on some aspect of my one of my businesses.
@@TechWithJayMcCall
Everyone here don’t say “insurance stuff”
@@justinacase2623 Simple. I like it!!
That's when you know you made it ..when you need to upgrade from a [rain] umbrella, to the actual insurance policy
💪
I have a $2 mil Umbrella policy.... $392 annual payment. Worth the peace of mind.
Hi Can you recommend a good company to get your umbrella policy through?
Is net worth really important when deciding on an umbrella policy? I thought a person’s retirement accounts such as 401k, IRA, pension are protected from lawsuits. Some states let you file a homestead exemption on your personal residence, which also supposedly protects that equity from lawsuits.if most of your net worth is in these investments, then you shouldn’t need umbrella insurance.
Besides the umbrella insurance advice was an additional gem 💎
Love that dave voice
Umbrella 🌂 insurance is an absolutely must for me! I always loose my umbrellas so it really comes in handy
*lose
God bless anyone seeing this comment!
For financial advice
Tell her am your referral
Dave's face when he messed up the new show name got me to laugh. It's going to take a while to get that one right.
Has he ever said on air why they changed the name of the show?
@@PCConditioning I couldn't find anything, I just noticed this change recently. I assume with co-hosts everyday now ect, that someday Dave will retire, or semi retire, and the other personalities will run the show, so it makes sense to change the name.
I was shocked at how inexpensive a million dollars umbrella coverage for home and auto was. Between that and the stats from my insurance company saying that 13% of claims they pay out go over $1M, and it was just dumb not to have that extra coverage.
Can you recommend a good company to get your umbrella policy through?
@@morgankennedy7591 Checking with your existing insurance company would be the best place to start.
"own nothing control everything"
does anyone have any more info on the LLC's and trusts dave was talking about ?
Check with your secretary of state and an incorporation lawyer
Great jokes, thanks everyone
I must be the only one who doesn't find the umbrella jokes funny.
Or maybe they're annoying.
The first one I read was funny, but thereafter I had to roll my eyes.
what in the world is umbrella insurance
Insurance for your umbrella
Umbrella is usually a great deal
You get a ton of coverage for very little money
Under my umbarellaa ella ella ay ay ay ay!
Insurance agent here.. umbrella premiums up to $10m are a bargain, and extremely costly above that amount.
For financial advice
Tell her am your referral
Can you recommend a good company to get your umbrella policy through? I need to get two.
Rli or personal umbrella are great stand alone umbrella policies. Most carriers require umbrella through the same company but those options above fit. @@morgankennedy7591
My umbrella policy went from $700 to $4,000 a year for $1 million in coverage. Two minor accidents in my family over the last 2 years. I’m gonna drop it and look for other ways to protect my assets
I legit thought... you know...
I wanted to buy a $2M umbrella policy but it turned out it was cheaper to raise the property and auto liability insurance to $1M each. Not exactly the same thing since they are in their own insurance buckets but worth considering.
@@justinacase2623 Will do.
Renter flooded the unit below. the umbrella policy came in handy.
Umbrella insurance is the best insurance nobody has heard of. Every American Ins company offers it but you never see it advertised. If you have any assets at all you need it. It's cheap- We have $1 million policy for $137 a year. I call it 'peace of mind" policy as I know if someone comes after me with legal action, I have this to help protect me and my lifetime assets
How do you have your so cheap. Which one do you have? I currently pay $1000 annually through Farmers. Do you have to get home and auto through same insurance company also?
@@justinnernsuan4040 umbrella insurance $1k? That sounds crazy expensive. I have had umbrella with geico and now state farm. You need to check around
Oh. Wa..what baby step is this? I'm working on two.
If you drive a 20 year old pizza delivery vechicle- finding some type of umbrella to cover it from water leaks is probably a good idea. Those old pizza delivery cars leak, so why not cover it with some type of tarp?
Moldy cars don't hold their value...
Came here to make a joke about umbrellas being insured, but comments got me covered.
For financial advice
Tell her am your referral
Yes
Wrong
Can pierce you if you commit fraud or there is injustice!
Yes it’s the safest liability wise but if your at fault in an accident and kill somebody due to your negligence they coming after you and going to pierce
Nice work 🌠✨🎇
Anybody ever get insurance companies to make you whole after "something happens" minus your deductibles. The adjuster and insurer will 🔩 you.
Never had to make a claim for home and auto which is why I try to self insure as much as I can and avoid all warranties.
Dave Ramsey is Visa's worst nightmare
I had one when I had a pool. Recommend. Half a million on home insurance. Homestead act can only take one hundred thousand, I think.
For financial advice
Tell her am your referral
Oh.....an umbrella policy is a thing. I found out because they're so serious in answering the question.
If you don’t have at least a million dollar umbrella and are at fault in a serious accident, the insurance company might just pay their maximum share and leave you looking for a good lawyer.
My umbrella policy is 1,900 a year. Please share where to get a low cost policy.
Are you sure thats umbrella? Its usually under $300
Mine went up from $300 to $800 for a million dollar policy from State Farm when my teenager started driving.
One problem though, we have to carry 300k-500k on any vehicle we have.
Car insurance policies are pretty reasonably for having a teenage driver on my 2017 Toyotas
but when I priced insurance on sake rockets even a low cc CBR 600RR, (12k motorbike) they want $3000 a year for just me 😮 40 years been licensed with motorcycle endorsement whole time, perfect driving record.
I’d imagine any hi-line or expensive cars or SUV would be stupid money too
@@coastalhillbilly3419 hm. Maybe you can get the umbrella policy through your home insurance.
@@ee.es00I double checked but it’s high because 2 of my kids are drivers on the policy and they’re in their early 20’s
So do I need!???
He didn’t answer the callers question.
I can fix that problem you had three seconds into the video. Just give me a thousand bucks every time you say “Dave Ramsey show.” ;) That will fix it. Thanks for all y’all do!
Is pizza insurance worth buying?
Dave just realized at the intro that he said it wrong since they changed.
Has he ever said on air why they changed the name of the show?
February 13th is a holiday
The Ramsey team must've gotten a clickbait consultation
Leave your Best umbrella puns below
It is raining umbrella jokes...
I was hoping to hear at what point you need umbrella coverage is general
When your net worth exceeds the liability coverage of your existing insurance.
Many people have a lot of “things” but they have a negative or very small net worth because of what they owe. As the pendulum swings the other way and you outright own more than the liability limits of your home or car insurance, then umbrella makes sense
Dave who?
If Dave offends me on a call I’ll sue.
Then that makes a true millennial! 😂😉
Can I sue you for a stupid remark?
do they offer insurance if people discover you're a heartless grifter?
No but you need rubbers.
I think umbrella insurance is.......a raincoat. 🤣
Sorry, had to do that
First!
You beat me to it
Hush
😁👍👌🖖 ✌😎
2nd
You don't need umbrella insurance! It's just another rip off to get more $ from you!
That's just your opinion
Dave...get on the joe Rogan podcast
Is a joke ?
Y’all really need to educate yourself. This is embarrassing
This is serious.
juss say insurance your not coo bro
The title is a joke, right? RIGHT!!!?
No...but you clearly are
No you being uninformed is a joke
Retirement accounts are already protected from lawsuits and bankruptcy which is where the majority of people’s wealth is or should be
You can think whatever you want. The law is the law and this has already been tried and settled in the courts. Pensions count also, which is why OJ Simpson still keeps his to this day even though he lost a multi million dollar lawsuit to the brown family. If you live in a homestead state such as Florida they can’t take your house either. Sorry to tell your but US courts don’t give two flying F’s what you think 🤷🏻♂️
If the rest of your assets consist of backpack and tent you should be fine.
@@blackworldtraveler3711 tell that to OJ Simpson who has a nice big house in Florida and his NFL pension. The Brown family would beg to differ with you. Again this is settled law
@@TheTurdballs420 True on the house I'm in Florida. Ok it looked up your right for 401k are protected. So I'm over now a million networth. I guess technically I don't need a million in coverage since my house and retirement accounts are safe from the sharks. But my other investment accounts arent.
@@justinacase2623 how does that change the fact that your retirement accounts and your house(in homestead states) is protected from law suits? You wouldn’t even make it two seconds in Judge Judy’s court