The modern world is filled with risks. From car accidents to slip and fall incidents in the home, the possibility of being sued is a real possibility every person needs to take into account. Nearly everyone accounts for this risk by buying insurance. Personal umbrella insurance takes this concept to a new level.
Insurance is a staple of any financial plan these days. There is an inherent weakness with every policy, however. Let’s consider your car insurance. It covers you in case of a collision with another party. A typically policy might pay out up to $50,000 per claim with a total payout per year of $100,000 regardless of the number of claims.
Let’s assume you are late to work one morning. You try to make it through a yellow light, but it turns red. Traffic proceeds from the cross road and you hit someone. Your car insurance will pay up to $50,000 to make them whole, but what if it is going to cost more than $50,000? What if they sue you for $250,000? Now you have a problem.
Every insurance policy has a limit. This “policy limit” defines the maximum amount the insurance company will pay out on claims made against you and the policy. Claims can often exceed these limits in worse case situations, leaving you on the hook for any additional amounts due.

Personal umbrella policies are designed to address the shortcomings of policy limits. Umbrella policies cover liability claims in excess of the policy limits for your primary insurance. In our car accident example, the umbrella policy would pay any amounts due in excess of the $50,000 covered by your primary car insurance policy.

Umbrella polices let you sleep peacefully at night. It is as simple as that. If you have a child who has just started driving, you can sleep blissfully knowing the umbrella policy will cover any disasters caused by their inexperience behind the wheel. So request a umbrella insurance quote now.

Umbrella policies are typically written in increments of a million dollars of coverage. This means you can purchase one million, two million or more in coverage in addition to your underlying policies. If you purchase a million dollars in coverage, for example, the policy would cover any liability claims in excess of your $50,000 car insurance policy up to $1,050,000.

Umbrella insurance cost: Umbrella insurance policies are surprisingly inexpensive, which makes them a wise choice for most individuals. The premiums are usually shockingly low because your primary insurance policies are usually going to cover any claims. Given this, the insurance company writing the umbrella policy faces a low probability that it will ever have to pay on the policy. In exchange for this low payout risk, the insurance company provides you with low premium costs.

Is purchasing a personal umbrella insurance policy a smart move for you and your family? Absolutely. You gain the peace of mind of knowing you are covered should things go very wrong and at a very low premium cost. Contact us today for a no obligation quote on a personal umbrella policy for your current situation.
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Strive Insurance Group, Inc. (formerly Gordon Lund Insurance Agency, Inc) is a full-service independent insurance agency representing many insurance companies.  This means that we shop many different insurance companies to obtain the best rate and coverage for your insurance.  We do this at no additional fee or service charge to you.  Simply put, our goal is to find you the best coverage and rate for your auto, home, business, or life insurance.  Whether you need a business insurance quote or an auto insurance quote, we can help.  To obtain an insurance quote, click on the tab and enter your information into the form.  If you have any questions along the way, please don't hesitate to contact one of our insurance agents. 

The Centers for Disease Control recently stated that the Coronavirus will have an impact in the United States. People who contracted the Wuhan virus have reported symptoms that include fever, chills, headaches, difficulty breathing, and a sore throat.  Now is a good time to start thinking about how you might protect yourself and your family from contracting this virus.
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The World Health Organization and the CDC recommend that you take the usual precautions to help prevent the spread of respiratory viruses including:

• Wash your hands often with soap and water or use an alcohol-based hand sanitizer.
• Cover your mouth and nose with your elbow or a tissue when you cough or sneeze.
• Avoid touching your eyes, nose, and mouth if your hands are not clean.
• Avoid close contact with anyone who is sick.
• Clean surfaces you often touch.
• Stay home from work, school, and public areas if you are sick.
• Check with your doctor if you have a fever, cough, and difficulty breathing, and tell your doctor about any recent travels.
• Avoid eating raw or undercooked meat or animal organs.
• If you are visiting live markets in areas that have recently had new coronavirus cases, avoid contact with live animals and surfaces they may have touched.

Strive Insurance Group, Inc. is a full-service independent insurance agency that has been serving the insurance needs of the Dallas area since 1984 (formerly Gordon Lund Insurance). Don't worry, nothing has changed, but our name. In addition to having a presence in the Dallas and North Texas area, we have also expanded to Austin and Central Texas with agent representation and the same professional service.

We represent, and have established a strategic alliance, with only the highest quality insurance carriers. In doing so, we can provide you with the service and protection to meet your dynamic needs. As your needs change, we can review and collaborate to decide which insurance company or companies are best suited to your situation.

You make decisions every day that can come back to bite you.  You may not think so, but in this day of litigiousness, your business may be at risk.  One way to manage your risk is to consider management liability insurance.  Management, or professional liability, insurance is not just good business; it is as necessary as heat and lighting for your office.  Statutes, federal, and state laws change on a regular basis, so it is vital that your company protect its assets with management or professional liability insurance.
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Issues to Consider

• General Liability Insurance does not cover the risks of Employment Liability, Professional Liability, or Directors and Officers Liability.  You need a separate insurance policy to cover these risks.
• Defense costs are going up at a rapid rate. Management liability insurance can provide needed defense coverage, even if you are not liable.
• Company owners can be held personally liable for their actions as well as the actions of other managers or executives.
• Twenty five percent of private firms have had some sort of employment issue that could not be resolved without legal counsel involvement.  The average defense costs are $250 per hour.
• Many firms fail to purchase Cyber Insurance. However, the average cost of each compromised record is around $175.00. Most states have laws requiring notification if you have had an incident.

The best thing you can do is call our office and have us provide you with a risk review, including coverage options.  Once you have had a chance to review coverage and pricing, then you can make an informed decision.

Our insurance agency's reputation for representing the best insurance companies, providing excellent customer service and competitive pricing to our clients has been earned and proven for over 25 years.  We take great pride in finding you the best coverage and backing it up with prompt personal service.  We have been serving the Dallas/Richardson, TX area for over 25 years and have recently expanded to the Austin, Cedar Park, and Round Rock area. ​

We understand every business and industry is unique, so we will work with you to find the best business insurance coverage at the lowest rate. Contact us today for a free quote.