PERSONAL UMBRELLA POLICY

 

In this era of litigation, juries are making larger money awards than ever.  Car, Boat and House  insurance policies all have liability insurance coverage but, if there is an accident that is deemed to be your fault, do you have adequate liability coverage limits?  There is no way of knowing the amount a jury may award an injured person!  Umbrella insurance may have once been only needed by the super wealth but today it is required for every policyholder.

Umbrella Liability insurance provides protection in excess of the limits on your auto, boat and home insurance policies.  Depending on the insurance company, you can purchase one to five million dollars of additional liability coverage which will take over when your basic policy limits are gone.

Liability insurance is the part of your policy that pays the injured persons expenses, like doctor bills, physical therapy and lost wages caused by someone else’s negligence.  Liability insurance also covers legal defense if you end up in court.  When you add up all of those expenses, the liability limits in a homeowners or auto policy can easily be inadequate.   When that happens, your personal assets could be seized.  

When you purchase a Personal Liability Umbrella Policy you are obtaining additional liability coverage without spending very much money.   We urgently recommend this policy be purchased by all of our policyholders.