Umbrella Liability
Umbrella policies provide you with protection against catastrophic liability claims. An umbrella policy helps you in two ways. First, it provides you with $1,000,000 or MORE of “excess” liability protection over your underlying policies. Second, the umbrella policy’s coverage is so broad it can often provide “primary” protection in cases where the underlying policy does not respond at all. For instance, your Homeowners might cover you if you cause “Bodily Injury” to someone, but what if you cause “Personal Injury” to someone without any physical contact, such as slander; your umbrella policy could help you even if your Homeowners didn’t.
Based on these actual claims, consider these possible scenarios:
- A neighbor’s child climbs a tree on your property, falls, and is seriously injured. The claim settlement exceeds the amount of coverage provided by your Homeowners policy.
- You cause injury to someone in a car accident resulting in paralysis, and are sued for $1,000,000 to cover the hospital stay, therapy, equipment, mental anguish, and loss of quality of life.
Surprisingly, umbrella policies are extremely affordable! Although your cost will depend on how many dwellings, cars, boats, etc. you own, although we typically see a $1,000,000 umbrella policy for approximately $200-$300.
Call us today to discuss this valuable protection.