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Personal Umbrella Insurance
Sued!! Everyone today knows that the potential risk of being sued is increasing. If you were sued, could you afford to pay the damages out of your own pocket? Your homeowners, auto and watercraft policies have liability coverage, but what if the judgment was in excess of that coverage?
A Personal Umbrella Policy is designed to give you an extra layer of protection from catastrophic liability losses. It can provide up to $5 million excess coverage above the homeowner, auto or watercraft liability limits. (Coverage not available in every state.)
How to Determine your Exposure
In order to determine the amount of liability exposure you have, ask yourself a few questions:
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Do you own your own home?
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Do you have a pool?
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Do you own more than 1 car?
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Is there a young driver in your household?
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Do you own a boat?
The more assets you have the greater your exposure for a liability suit.
How much coverage is Enough?
You can begin to determine the amount of coverage that is best for you by:
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Determine the amount of liability insurance you have on your home, auto or watercraft policies.
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Determine whether you could pay a judgment against you, in excess of your auto, home or watercraft policies, out of your own pocket.
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Determine the coverage you would need, $500,000, $1 million, $2 million or $5 million.
A Neefus-Stype Agent can then provide you with a quote to determine whether this is a coverage you can afford NOT to have!
