Lawsuits are a very common occurrence in today’s world. It is impossible to predict how much the injured party will be awarded by the judge. That is why you may want to consider getting a personal umbrella insurance policy.

What Is an Umbrella Policy?

An umbrella policy provides you with more liability coverage than you would have on your auto, home or watercraft insurance policy. The standard liability coverage that you get with these policies may not be enough.

Here is an example of how an umbrella policy can come in handy. You get into a car accident. The accident is your fault, and you are sued by a third party. The victim is awarded $500,000 by the court. You only have $100,000 in bodily injury protection insurance. In order to get the $400,000, you will have to either deplete your savings or liquidate your assets. If your net worth or assets is not enough to cover the judgment, then your wages could be garnished. This is why it is so important to have an umbrella policy.

Every one should consider an umbrella policy. However, you should definitely consider getting an umbrella policy if the following applies to you:

• You are a frequent driver.

• You own a swimming pool or trampoline.

• You have a dog.

• You frequently have guests over at your home.

• Someone in your household is an inexperienced driver

Umbrella policies are not that expensive. You can get a $1,000,000 policy for about $300 per year. The added protection and peace of mind are two things that no one should go without.

Please contact us if you have any questions on umbrella insurance!