Umbrella Policy

A Personal Umbrella Policy provides additional liability protection once the underlying liability coverage in a homeowners, renters, condo or auto policy is exhausted.  It is excess liability protection that provides coverage, not normally available in the underlying policy.  For example, libel and slander lawsuits.  In addition, it also pays for judgment against you and attorney's fees up to the specified policy limit.
In a litigious society, increased litigation costs can easily exhaust normal liability limits of a home, renters, condo or auto policy.  In a depressed economy, people are more likely to pursue claims; sue and go for full judgment.  A Personal Umbrella Policy can help protect your personal assets and "future earnings". 
Some Common Scenarios: 

  • Texting and driving has become as severe as drinking and driving.  How many drivers do this now?  Even the best driver can get distracted and cause an accident.
  • Dog bites make up more than a third of homeowners insurance liability claims paid out in 2011 costing nearly $479 million, according to the Insurance Information Institute (I.I.I.).
  • A homeowner hosts a weekend barbeque at their home and a friend/neighbor slips, falls and gets injured on the premises.  The neighbor may sue the homeowner for damages including medical expenses.
  • Friends come over to swim in your pool and a guest accidentally drowns.
  • The tenant of your rented home, falls down a flight of stairs; gets hurt, injured and permanently disabled due to a loose handrail.