Since 1967, from our Madison location, Action Insurance Agency has served the personal insurance needs of Wisconsin residents. As an independent insurance agency we work for you, not an insurance company. Representing a carefully selected group of financially sound and reputable insurance companies we're able to offer excellent value for your insurance coverages.
Our experienced, professional staff is able to tailor the right coverages at a competitive cost for your personal property, casualty, and term life insurance exposures. From preferred to high risk (SR-22) automobile coverage, to homeowners and renters insurance, along with motorcycles and boats, a policy can be built to suit your requirements.
This Month's Tip
Check Your Suability Factor
Some individuals, particularly wealthier ones, have a higher than normal loss exposure to lawsuits. This tendency is often referred to as a suability factor. How suable you are can be determined by examining the following:
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Size of your savings account and stock portfolio
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Size of your real estate holdings
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Family income
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Profile in the community and media
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Leadership activities on not-for-profit boards
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Leadership activities in home owners' associations
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Future income
People with a low suability factor should still strongly consider procuring a personal umbrella policy with at least $1 million in liability limits. People with a high suability factor nearly always need a personal umbrella policy with at least a $2 million limit. Remember that this is a relatively inexpensive policy that provides excess liability coverage over your homeowners and personal auto insurance policies. In some cases, it provides broader liability coverage than that found in the underlying policies.
Get more personal lines insurance and risk management tips and ideas from IRMI.
Copyright 2012
International Risk Management Institute, Inc.
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