Why do I need personal Umbrella?

We live in a litigious society. You know that. Today, juries and judges don’t think twice about handing out multi-million dollar awards when someone has been seriously injured. You also know that. There is no question that the ownership and use of our autos present us with the greatest personal liability exposure. But our normal daily activities can expose us to the potential of a large liability claim that could threaten our personal assets. Your credit-based insurance score is not the same as your personal credit score, nor is it a measure of your credit worthiness. The credit-based insurance score is a number that measures your likelihood of having an insurance claim. Studies have shown that consumers with higher credit-based insurance scores have fewer and less severe losses. For this reason the credit-based insurance score is useful as a rating factor, but in those states where it is used, it is only one of many that are used. Because your personal credit history affects your credit-based insurance scores, it is important to regularly review it and make sure it’s accurate. The Fair Credit Reporting Act (FCRA) allows you to order one report for free from each of the major credit reporting agencies each year. You may also purchase a 3-in-1 report to review your scores from all three major credit bureaus—Equifax, Experian and TransUnion.