What Rihanna can teach you about liability insurance

Insurance
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There’s no denying that Rihanna is one of the hottest artists today. No offense to JayZ, but when it comes to overall talent, I honestly think Rihanna will give Beyonce a run for her money. Not only can she sing better, her moves are smoother, more spicy and hypnotic, enough to make any straight guy go nuts.

You have my heart
And we’ll never be worlds apart
May be in magazines
But you’ll still be my star
♫ ♫ ♪

Switching from a black to a white dress, she sang the above part with gusto. She’s a real epitome of grace, elegance, confidence, and poise.

rihanna_umbrella2

After switching back to a black dress, here she starts warning us about night driving as it poses unique dangers.

Baby, ‘cause in the dark
You can’t see shiny cars
And that’s when you need me there
With you I’ll always share
♫ ♫ ♪ 

rihanna_umbrella5

Rihanna obviously knows that dark conditions are not ideal for human eyesight. Bright lights can easily blind us, at least temporarily. Our pupils dilate, and our eyesight tends to detect lights and movement rather than the color and sharp details that we recognize during the day.

Consequently, she warns us that our depth perception isn’t as sharp at night, and our eyes may be more prone to become dry or tired because we tend to concentrate more and blink less.

And when you happen to crash your car into a “shiny car”, like in the song, you’re in for big trouble. Much worse, if you caused terrible, terrible injuries to the people inside…

 

BANG!!!

 

carcrash

In addition to a good lawyer, you will need a shoulder to cry on. Someone who you know will be there when you need it most. Preferably, someone as titillating as Rihanna…

rihanna_umbrella6

Because…
When the sun shine, we shine together
Told you I’ll be here forever
Said I’ll always be your friend
Took an oath, I’mma stick it out to the end
♫ ♫ ♪

(Doesn’t the above sound like an extended version of an insurance company slogan? I won’t be surprised if Geico ends up licensing this song in the future the same way it licensed Salt-N-Pepa’s “Push It”.)

But it’s too bad that Rihanna is neither a lawyer nor an insurance company that can protect you. If she wasn’t able to defend herself from that $@#%$! Chris Brown, how do you think can she defend you?

What you really need is an auto insurance coverage that has high enough limits that can cover your liability 100%. The problem is there’s probably no auto insurance coverage that has high enough limits to cover a multi-million dollar civil lawsuit.

Fortunately, Rihanna has something reasonable to offer to solve your problem when she sang the following part.

Now that it’s raining more than ever
Know that we’ll still have each other
You can stand under my umbrella
You can stand under my umbrella
(Ella, ella, eh, eh, eh)
Under my umbrella
(Ella, ella, eh, eh, eh)
♫ ♫ ♪ 

Rihanna holding an umbrella

Thank Rihanna for the Umbrella (Ella, ella, eh, eh)

Umbrella Insurance is a form of liability insurance that provides extra protection on top of your auto or homeowners policy limits. If you injure someone or damage their property, you might not have enough coverage without the extra layer of protection provided by an Umbrella policy.

So when it’s raining lawsuits, the policy can cover not only the amount that exceeds the limits of the underlying auto or home insurance policy,  it can also cover the cost of your legal defense. In addition, it can protect you in other situations, like slander or libel lawsuits, that your other policies may not.

And because the Umbrella coverage kicks in only when the primary insurance coverage has been exhausted, the premium is relatively affordable– around $200 per year for the first $1 million in coverage and another $100 for each additional million.

Should you get one??

In general, umbrella insurance is a good investment for anyone who has more in assets than they have in liability coverage from auto and homeowners insurance. For example, if you have $1,000,000 in assets and your auto insurance only covers you for $500,000 per accident, an umbrella insurance policy protects the rest of your assets.

Another factor to consider is how likely you are to be sued. For example, if you’re like me who spend a lot of time on the road, you are more likely to be in an auto accident, which means you’re more likely to be sued.

Note that even if you have less than $1 million in assets, it might be worth signing up for one. That’s because in the rare event you are sued, you could be forced to pay a legal judgment from your current assets and future earnings.

Here are some examples

  • A house guest dove into your 5′ deep swimming pool striking his head on the bottom. As a consequence, he became a quadriplegic and sues you for $5,000,000.
  • You forgot to turn off your garden hose. The mailman slips on your wet driveway, injures his back, and sues you for $2,000,000.
  • You rear-ended another car. The other driver claims long-term neck damage and sues you for $500,000 threatening your life savings because your auto insurance liability limit is only $250,000.
  • Chris Brown sues me for this blog post.

Now you can enjoy the music video

I probably watched it more than 100x already while writing this blog post.


Don’t miss an update!

I had to read the post because of Rihanna. Then there’s the Umbrella song analogy. I ended up reading the whole post.

I don’t need an umbrella insurance but glad to know more info while mentally singing at the same time and using the real umbrella as it is raining in Halloween. That’s definitely not a treat.

Some bloggers need an umbrella policy to protect themselves from libel charges. I don’t think yours is high risk. I bought an umbrella policy only because I got paranoid after getting maliciously sued when I got involved in a 3-car accident a year ago. Glad to know you like Rihanna too.

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