Umbrellapersonal liability coverage
Every day, we are exposed to risk. Our daily activities result in lawsuit exposures, and unfortunately you no longer have to be a millionaire to be sued like one
Therefore, we always recommend that you consider an Umbrella policy.
Umbrella liability insurance is appropriately named because it “sits over” your primary insurance, providing you a higher level of coverage above your automobile, homeowner’s, boat, and recreational vehicle policies. Umbrella policies give you higher limits, broader coverage, and worldwide liability coverage.
Your daily activities result in lawsuit exposures every day, and unfortunately the frequency and cost of lawsuits have increased dramatically over the last ten years. If you can answer “yes” to any of the questions below, we strongly recommend you add an umbrella policy to your coverage.
Think about the value of your assets. If your home, automobiles, investments, and potential future earnings are worth $400,000 and your automobile liability insurance limit is only $250,000, then you are left with $150,000 of uninsured assets. You can also be sued for more that your assets as seen in the examples below
- Serve on a board of directors?
- Participate in volunteer activities?
- Have teenaged drivers?
- Drive a carpool?
- Own rental or vacation property?
- Have jet-skis, a golf cart, or other recreational vehicles?
- Have a swimming pool in your backyard?
- Have financial responsibility for your children?
- Own a small business in your home and see clients on occasion?