Personal | Personal Umbrella

As many individuals have discovered, you don’t have to be a millionaire to be sued like one. The fact is many homeowners are not adequately protected against a catastrophic loss. A single lawsuit, even if you win, can end up costing hundreds of thousands of dollars. The greater your assets, the more you have at risk.

Select insurers can help protect you against personal liabilities that could jeopardize a substantial portion of your assets, even if you already have liability coverage provided by your Automobile and Homeowners policies.

Multi-million Dollar Claims Are Not As Rare As You Think

As you turn a corner in your car, you accidentally injure a successful entrepreneur in the crosswalk. Medical costs, lost earnings and damages amount in the millions and you are responsible.

You are having a wide-screen television delivered to your home and one of the deliverymen slips and falls on your icy steps and breaks his leg. He is now out of work with mounting medical bills.

You volunteer on the board of directors of your condominium association. The Board installs a playground on its premises with a faulty swing and a fellow association member’s child is injured. You are sued as a board member.

In the event of a substantial liability claim against you, none of the expenses the insurance company incurs as a result of defending you will be applied to the policy limit. The limit is in excess of any defense costs.

How much do you presently have at risk without even knowing so? For example, if you employ residential staff, such as gardeners, housekeepers or nannies, you have additional liability hazards. You should definitely consider additional insurance coverage for employment practices liability. Call us today for a thorough review of your insurance needs.