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WHAT IS AN UMBRELLA? WHY
SHOULD I HAVE ONE?
A
Personal Umbrella policy provides additional liability
protection in million dollar increments. The policy protects
you against claims that exceed the liability limits of your
home, auto, boat, and other personal policies. An Umbrella
also provides coverage for losses that are not covered under
the primary personal policies. Some losses that an Umbrella
could include are:
Here are
some actual cases or uses for an Umbrella.
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A neighbor’s
child climbs a tree on your property, falls, and is
seriously injured. The claim settlement goes well beyond the
$300,000 liability limit of you homeowner policy.
-
Your family dog
bites a visitor to your home. The injured person must
undergo a series of plastic surgeries as a result of the
bite. A jury awards $500,000 to the victim.
-
You are sued
for slander through a misunderstanding. Chances are your
primary policy does not offer protection or legal defense
for this type of allegation.
-
You are mowing
the grass and a rock shoots out from under your mower. It
hits a child in the eye causing extensive damage and
blindness.
-
You are
involved in a car accident. You cause injury to someone.
That person becomes paralyzed as a result of the accident.
You are sued for $1,000,000 to cover the hospital stay,
therapy, equipment, mental injury, and the quality of life
the victim can no longer enjoy.
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You cause an
accident and the injured victim is a doctor. He has
extensive injuries to his arm and requires a lot of physical
therapy to restore his movement in it. This requires him to
be off of work. You are then sued for his injuries, therapy,
and income lost due to inability to work.
**The
above definitions are general definitions. Please refer to
the actual insurance policy for detailed descriptions of
coverages, limitations, or exclusions. We will be happy to
answer any questions upon request.
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