| John and Mary live in a nice five bedroom
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| | would be personally liable for any money
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| home located in California. They've lived
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| | damages which exceeded the liability
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| in their three thousand square foot home
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| | limits that they carried.
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| for twenty five years and are retired.
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| | The adjuster also told them that the
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| Their home is paid for and worth about
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| | pedestrians attorney did an asset check
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| $900,000. They live off their retirement
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| | to see if Mary and John owned property.
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| and have hardly no bills to pay. John and
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| | The attorney found out that they owned a
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| Mary have always had a homeowners policy
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| | home and would be expecting them to
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| to cover their home in case of fire,
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| | contribute additional monies towards the
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| theft or other potential losses involving
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| | settlement of the pedestrians claims in
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| their home. Mary is age 75 and John is
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| | addition to the auto insurance liability
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| age 72. They hope to someday leave their
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| | limits that they carried. Mary and John
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| home to their adult children.
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| | were devastated and did not realize that
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| On a nice spring day, Mary went to run
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| | their home the most valuable asset they
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| some errands in her vehicle around her
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| | owned was at stake!
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| neighborhood. She pulled into the parking
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| | They worked all their lives for their
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| lot of her local grocery store. For some
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| | home and could not believe that it may be
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| reason, after Mary parked her car , her
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| | at risk due to the accident. John and
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| foot slipped off the brake and hit the
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| | Mary did not know they may have avoided
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| accelerator instead. Mary's car went
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| | contributing monies towards the
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| through the wall of the grocery store.
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| | pedestrians injury claims if they had
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| Her vehicle continued through the wall of
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| | excess liability coverage or an umbrella
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| the store and she collided into two
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| | policy!
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| pedestrians who were standing in line
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| | What is excess liability coverage or an
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| with their grocery carts.
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| | umbrella policy? This policy would be
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| Both of the pedestrians were rushed to
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| | liability coverage which would exceed
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| the hospital due to the severity of the
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| | your homeowners or vehicle policy for
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| injuries they sustained from Mary's car
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| | damages you may be liable for.
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| striking them. Mary was upset about the
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| | The cost of excess liability coverage or
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| accident and did not know what she should
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| | an umbrella policy is very minimal for
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| do. She called her insurance agent the
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| | the amount of additional coverage you
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| same day of the accident and her agent
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| | would receive. You can expect to pay
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| took her information to start processing
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| | somewhere between $150-$400 annually for
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| her claim.
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| | this coverage. Consult your insurance
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| Months later after the accident, Mary and
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| | company for details.
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| John found out that the damages filed by
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| | Remember, excess coverage is important
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| the two pedestrians injured from the
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| | for you to consider if your assets are
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| accident, exceeded the auto insurance
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| | substantial, especially being a
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| liability limits that they carried with
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| | homeowner. This extra protection may give
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| their insurance company. John and Mary
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| | you better peace of mind in the long run
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| found out from their adjuster that they
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| | and will be well worth it!
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