Do you need personal umbrella insurance? You sure do

The papers tell us daily about the lawsuit stories: cases where the jury awards millions of dollars for injuries and even deaths from car, home or boat accidents.

If you are like others who have not obtained adequate liability coverage, you can face catastrophic losses from any number of accidents. This can lead to financial ruin for you and your family.

What is the solution? Umbrella insurance protects you along with your current car, home or boat coverage by providing further protection that kicks in once your other limitations are exhausted.

Personal umbrella insurance: a loose definition

The personal umbrella policy works like a catastrophic prevention plan, covering you and your family from liability in the event a jury decides to award others and you have to pay the amount.

The umbrella policy provides further limits of liability for your home, apartment, or renter policy, as well as your car policy of at least $1,000,000. More coverage – up to $5 million can also be obtained. This can provide protection for risks that may be excluded from a current policy.

Related lawsuit examples

1. A neighborhood boy helped clean a homeowner’s gutters. The boy unexpectedly slipped and fell from the roof, sustaining serious neck injuries. A lawsuit ended with the injured boy being awarded $1,500,000 to pay for the many surgeries he needed.

2. After a car accident in which a single mother and her 2-year-old child suffered serious injuries, the jury awarded $1,700,000 to the motorist who caused the accident.

3. A ski resort vacation ended in tragedy when the teen lost control of a mountain and collided with four people, resulting in serious injuries. $1,200,000 was awarded to a victim who suffered a disfigured face.

4. While driving her son and his friends to a baseball game, a mother was in a car accident. Some children suffered serious injuries. The parents sued the motorist, after which the court awarded a total amount of $1,600,000.

Everyday scenarios that can happen to anyone…

Are you considering an overarching policy? Think about your current income and assets, as well as your future income and assets. There’s no better time to build a more defensive defense for your family than today.

Are you:

• A home or apartment owner?
• A tenant?
• A car or vehicle owner?
• A parent of a young driver?
• Do you own a boat, quad or motorbike?
• A family with children?

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If you fall into one or more of the above categories, talk to a knowledgeable independent agent who understands your needs and more about umbrella insurance.