Homeowners and Auto Insurance both offer personal liability coverage for injury and damages to others. But if a lawsuit is filed and the injured party is asking for damages higher than the limits offered by those policies, your personal assets can be seized or your wages garnished.
That is where a Personal Umbrella Policy can come into play. An umbrella policy or excess liability policy is activated if a claim coming from an auto or homeowners policy exceeds that policies limits. In today’s litigious climate, lawsuits are more and more frequent. Personal injury attorneys even advertise how much money they can win for their clients.
The numbers are staggering and continue to grow.
There are other great benefits that are included with and umbrella or excess liability policy:
• Coverage for claims by others for personal injury or property damage caused by you, members of your family/household or hazards on your property
• Coverage from claims stemming on or off your premises
• Coverage for personal injury liabilities such as libel, slander, wrongful eviction or false arrest
• Legal defense costs and included costs for a covered loss
If you or your family has or is building wealth you are likely in need of an umbrella policy. Our agency offers these policies as part of a package with your home or auto insurance carrier or as a standalone policy. We offer coverage ranging from $1,000,000 to $10,000,000 and beyond.
A brief conversation can help us identify if you need this coverage in your protection portfolio.