There are so many neat ways to earn extra money nowadays...car sharing (like Turo), Uber, Lyft, pizza delivery and so on. Most folks choosing these options are wanting to put some extra money in their pocket, so it's important to be properly insured so none of that income is lost due to an unpaid claim. Most personal auto insurance policies don't cover exposures for these type of vehicle uses. If your vehicle is being used to make money in a way other than simply commuting to and from work, please contact us so we can let you know if coverage exists under your personal auto insurance and, if not, what options will fill the gap.
This is a popular question when folks are reviewing their insurance profile. I thought this article gave a balanced answer. It's a nice starting point for a discussion. The average umbrella costs $12-15 per month and provides $1 million in liability coverage beyond what is included on your home and auto policies. Give us a call if you would like to talk about how umbrellas cover many liability exposures and can protect your assets (including future income). ~S.T.