Wealth. Lawsuits. It's easy to assume a relationship between the two. Unfortunately, that assumption is a common error made by most people. Anyone can be sued, regardless of income level, for just about any reason. Personal liability lawsuits can result in judgements amounting to six and seven figures.
If you're not covered by an Umbrella Insurance Policy, you could be risking everything - your car, your home, the lifestyle to which you and your family are accustomed, and possibly even your future income.
Typical auto, homeowners, and other property insurance liability limits are not adequate to cover the large court judgements being awarded these days. If you ever have to pay such a judgement, an Umbrella insurance policy can provide extra protection and may help you safeguard your assets. This policy provides the added protection you may need if you are held liable in certain situations, such as when someone is:
There are also some types of personal liability losses that your other policies may not intent to cover, including libel, slander, defamation of character or invasion of privacy. An Umbrella insurance policy may fill gaps in your insurance policies by extending protection for these other types of claims. Best of all, this vital insurance protection is relatively inexpensive.
This type of policy provides an "umbrella" of protection over your other personal liability policies. If you're involved in a lawsuit covered by an umbrella insurance policy, you can enjoy the security of an additional one to ten million dollars of liability protection. And, if you ever require legal defence for a covered claim, an umbrella insurance policy may contribute to your defense up to your policy limits. Please contact us if you're interested in learning more about an umbrella policy.