If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, paying for judgments against you and your attorney’s fees, up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That’s what a personal umbrella liability policy provides!
An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. It will also cover you for things such as libel and slander.

For only about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $75, and $50 for every million after that.

Still not convinced you need an umbrella policy? Check out the below real-life examples of umbrella claims:

  • Dog bite suit exceeded liability limits and left the homeowners fending for themselves.
  • Driver didn’t see a 4-way stop and T-boned another vehicle severely injuring multiple passengers in the other vehicle. Injuries went way beyond their $300,000 liability limit, and the driver REALLY wished they listened to their insurance agent and      bought an umbrella policy
  • An insured is a landlord who had a fire in one of their homes and 2 children were killed. The insured only carried a $300,000 liability limit on the property and had no umbrella despite owning a couple rental properties. The insured had to      make a very large out of pocket contribution to avoid an even larger jury      verdict against them well in excess of their liability limit.
  • A driver was DUI and involved in an accident and killed the other party. The insured only carried a $100,000 liability limit and had some assets, although not significant (mainly some equity in their home). Given the DUI and the fatality, the insured ended up taking a second mortgage out on their home and paid      $100,000 of their own money towards settlement.

As an added incentive to buy an umbrella policy, most of our carriers offer discounts on your auto & homeowner’s premium! Contact us today for your free umbrella quote or to review your insurance protection.