Personal Insurance

Personal Umbrella

We are a litigious society – there are more and more lawsuits filed every year. In record numbers, people are being awarded larger judgments than ever before.

Are your insurance liability limits sufficient to protect your assets and future earnings in the event of a lawsuit? We highly recommend looking into a Personal Excess Liability (Umbrella) policy. This type of policy is an extra layer of liability coverage above and beyond your automobile, homeowners, motorcycle, or boat policies. Should you be liable for someone’s injuries or damages and your primary policy’s limit runs out, an umbrella can offer additional protection, often a million dollars or more.

Certain exposures, such as swimming pools, trampolines, or inexperienced drivers,make a very compelling case to add an umbrella policy. This coverage can often be added for a very reasonable price. While it may seem ridicolous, consider this scenario: A group of high school students were partying one night when they decided to jump the neighbors’ fence and use their swimming pool. A boy dove into the pool while impaired by alcohol and broke his neck. Although the owners of the pool were not present, they were legally liable, and their homeowners’ policy paid the limit of $250,000, and their umbrella paid a full $1 million settlement.

By purchasing an umbrella policy, the pool owners were able to avoid financial ruin. Any time an injury occurs on your property, you could be held liable. Protect yourself and your assets with umbrella coverage. Contact us for more information.