When I buy umbrella insurance in Lakewood, CO, does it cover past liabilities?

Picture this scenario happening; you have no insurance, and are in an accident in Lakewood, Colorado, on the first. You are found guilty of a serious accident. The next day on the second you purchase and sign a policy that gives you the coverage you will need in this situation. Anticipating that the injured party will sue you for more coverage than you have, you call an independent agent and tell him/her you want to add on an umbrella coverage.

You feel quite confident you have now covered yourself well with a high enough amount , when it is determined that you may have thousands of dollars to pay.

Guess what, you are not covered for anything and you are on your own. You must make financial amends out of your own pocket for all liabilities. Call your independent agent in Lakewood, Colorado, and speak with an agent. An auto policy is only meant to pay for future accidents one day after you sign your application. Your insurance company is not going to pay for any damages before the second when you signed for your coverage.

Never, ever will a company pay out for any liabilities before the coverage was signed. There is no company on the face of the earth that pays out before the effective coverage date. In this case and many others like it you must pay out of pocket if you have no coverage and are found guilty in an vehicle accident. You could lose all of your assets including your home and car if a serious accident happens before you are covered.

There is one exception to this rule that pertains to a life insurance policy. If you purchase this kind of coverage and sign a dated application, you can make your first payment, and in some circumstance you are covered at once.

Do not wait unit it is too late. We can help you, contact us to speak with an independent agent in Colorado, about an umbrella converge today. We can give you specific details for our circumstances.

One thought on “When I buy umbrella insurance in Lakewood, CO, does it cover past liabilities?

  1. NBC News

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