ELECTRIC INSURANCE
The PEL Benefit
PEL is an employee benefit that helps you protect your assets and safeguard your financial stability.
The PEL benefit steps in where your auto, home, or boat liability insurance ends. For example, if you are at fault in a car accident and your auto coverage was not enough to meet the claim against you, the PEL benefit would pay up to your policy limits to cover the amount you still owe. Without PEL coverage, you would have to cover that amount out of your savings, investments, or other assets. If you didn't have sufficient assets, courts could order your wages garnished until the amount was paid off.
What does an PEL policy provide?
Higher coverage limits. Up to $5 million for liability costs that are in addition to the costs your auto, home, or boat policies cover.
Inexpensive coverage. The PEL benefit costs much less than comparable coverage available outside your employee benefits program.
Coverage for legal costs. PEL pays up to the policy limit, for:
- The judgment or settlement amount
- The legal fees you incur during your defense that are not covered by your auto or home policies
- Associated court costs
- Any interest that accrues on the judgment prior to final settlement
More types of coverage. Your homeowners policy won't cover you for accidental invasion of privacy, inadvertent libel or slander or several other activities that can lead to you being sued. A PEL policy will. These types of lawsuits are very common -- just check the news.
Flexibility: Two options and five coverage limits
PEL Primary & PEL Plus
Free Tools & Tips
Use these free tools to help you understand which types and amounts of insurance can help you protect yourself.
One of our Risk Coach™ professionals can answer any questions or work with you to ensure you get the right policy. They're licensed agents who'll help you get what you need and understand what you're paying for.
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Tips: What to Know and Do
Bad Accident. Worse Injuries
Would your auto coverage liability limits be enough to cover this common type of accident?
You're Hosting a Party and Someone Gets Hurt. Now What?
Injuries can happen in a heartbeat ― leaving hosts on the hook for major liability claims and lawsuits. Would your homeowners coverage be enough?
Parties Are Fun. Until They're Not.
If you host gatherings on your deck, for example, you should know what your homeowners insurance covers and how a PEL policy can protect you. Will your liability coverage handle multiple injuries?
