Most insurance policies provide your protection from known risks. However, they can leave you exposed to those risks that you never see on the horizon.
In one case, a couple was held financially responsible for an injury incurred when a group of high school students trespassed on their property for a midnight swim. While their homeowners policy paid up to the $250,000 limit, that wasn’t enough to cover the full $1,000,000 settlement.
Imagine if the homeowners hadn’t invested in personal umbrella insurance. They would have been financially ruined.
However, they’d had the foresight to recognize that the most dangerous risks are exactly those risks that seem improbable, laughable even. They’d invested in umbrella insurance, and that wise decision ensured that the remaining $750,000 of the suit was covered.
Personal Excess Liability (Umbrella) policies offer an extra layer of liability coverage above and beyond your automobile, homeowners, motorcycle, or boat policies. Umbrella coverage is often very reasonably priced, and should your primary policy’s limit run out before a settlement is fully paid, an umbrella can offer a million dollars or more of protection.
Protect yourself and your assets with Umbrella coverage. Contact us for more information.
