Protecting Your Personal Assets and Net-Worth
Your auto or home insurance will protect you against a minor loss, but will it hold up against a catastrophic loss? Today, lawsuits can run into hundreds of thousands or even millions of dollars.
Without adequate protection, your home, car, investment and retirement accounts, checking and savings accounts, even your future income, could all be at risk.
Asking yourself if you really need an umbrella policy? Instead, ask if you can afford to pay a large liability verdict from your own savings.
- A 12-year-old boy suffered lacerations to his lower legs and thigh when he walked by a neighbor’s house and was bitten by her two dogs. Plaintiff Verdict, Compensatory Award: $500,000
- A man improperly installed a pool diving board at his former home that later resulted in a serious injury to the home’s new owner. Out-of-court Settlement: $2,500,000
- A driver was rear-ended by an uninsured motorist, which forced the driver’s car into another vehicle and caused injures to the occupant of the front vehicle. Out-of-court Settlement: $1,250,000
A personal umbrella policy provides you with liability protection for bodily injury, personal injury, or property damage that goes above and beyond the limits of your primary policies. An umbrella policy also provides you with these additional benefits:
- Protection for claims not be covered by your home, auto or watercraft policy.
- Protection for a loss anywhere in the world.
- Coverage for defense costs and attorney’s fees.