Your 16-year-old daughter posts a not-so-favorable comment about a teacher on social media. You receive a lawsuit from an attorney’s office stating you are being sued for defamation of character.
You are at fault in a multiple-vehicle pileup. There are at least four passengers in the other vehicles taken to the hospital in critical condition.
You are hosting a party at your home and the child of one of your guests reaches down to pet the family dog. The dog, who was asleep, is startled and reacts by biting him. The child needs stitches for now and may need plastic surgery down the road.
Are you covered?
Insurance isn’t always simple.
Having an independent agent on your side means you have a policy catered specifically for your household’s potential risks. And as your needs change, we can change right along with you.
What is a personal umbrella policy?
A personal umbrella policy is an extension of your liability limits. It can be used to provide liability above and beyond your auto & homeowners insurance. Limits start at 1 million but can go up from there.
For example, if you have a $500,000 limit of liability on your homeowner’s insurance AND a $1,000,000 personal umbrella policy, you are extending your total liability limit for a homeowner’s claim to $1,500,000.
Depending on the form, personal umbrella policies can sometimes provide broader coverage than a homeowners or auto liability form.
Who should carry a personal umbrella policy?
Calculating your total assets, (consider all savings, investments, property owned, future earnings, etc.) will help determine your total risk factor. Based on that amount, we can make a recommendation on what coverage level is best for you and your family.
There are certain household risk factors that will cause us to recommend a client carry higher liability limits. Some of these include having a swimming pool, a trampoline, a dog, teenagers in the household, and certain volunteer activities.