Personal umbrella liability basics

Accidents happen—and it’s not uncommon for jury awards and out-of court settlements to run into the millions of dollars. While it’s difficult to pinpoint the monetary consequences of the risks you and your family take each day, are you certain your current liability insurance offers you enough protection?

In the event that someone is injured on your property and you are found legally responsible, you could be faced with a costly financial burden. Personal umbrella liability insurance provides an extra layer of protection over your personal assets for when your standard liability coverage is exhausted.

Do I need an umbrella policy?

If you are found to be legally responsible for injuring someone or damaging their property, without a personal umbrella liability insurance policy, anything beyond the limits of your standard liability insurance coverage will come out of your own pocket.

Like an umbrella that protects you from the rain, a personal umbrella liability policy provides an extra layer of insurance coverage over your standard liability policies. It protects your personal assets by kicking in when your standard liability coverage is exhausted.

Umbrella insurance examples

Simple things like having a swimming pool or entertaining guests in your home can increase the chance that someone will get injured and sue you.

• When litigation ensues, it’s typically for a large amount. If you get into a car accident and injure several people, you could be sued for millions of dollars; well beyond the limits of your automobile policy.
• You can also be held responsible if your dog bites someone.
• A handyman hurts himself at your home.
• You’ll have peace of mind knowing that you are covered in case of a fluke occurrence.