Umbrella

Unfortunately, you don’t have to be a millionaire to be sued like one. A Personal Umbrella policy should be an important part of your personal insurance portfolio to protect you if a lawsuit is made against you because someone feels you are legally responsible for an injury due to an accident. Although the liability coverage available under your primary homeowners, automobile or boat policy provides you with basic protection, the coverages may not be enough to pay the damages awarded to an injured party by a jury. If you are unfortunate enough to be facing such a lawsuit, all you have worked so hard to accumulate may be taken from you.

The typical umbrella liability policy provides coverage in excess to your primary personal liability limits and also provides protection against certain losses not otherwise covered by your primary policies. The protection provided is from claims alleging you caused, or contributed to, bodily injury, property damage, and personal injury (eg. libel, slander, invasion of privacy). The policy will pay the costs to defend you from such a lawsuit, and should you lose the case, the damages awarded against you, up to the policy limit.

Umbrella policies are typically offered with a limit of $1,000,000 and higher limits can be purchased in multiples of $1,000,000. Policies can be purchased for a surprisingly low cost. Please call us to learn how an Umbrella policy can become an important part of your insurance protection program.