A PERSONAL UMBRELLA IS DESIGNED TO PROVIDE YOU AND MEMBERS OF YOUR HOUSEHOLD A LARGE ADDITIONAL LAYER OF LIABILITY INSURANCE OVER THE LIABILITY INSURANCE INCLUDED IN YOUR AUTO, HOMEOWNER, BOAT OR OTHER PERSONAL INSURANCE POLICIES. IT ALSO GIVES YOU SPECIAL COVERAGES NOT FOUND IN MOST STANDARD POLICIES.

HERE ARE SOME IMPORTANT POINTS TO CONSIDER REGARDING
YOUR LIABILITY PROTECTION

 

WHY DO I NEED PERSONAL UMBRELLA INSURANCE?

THE AVERAGE SIZE OF LIABILITY SUITS HAS INCREASED DRAMATICALLY. THE FOLLOWING ARE A FEW EXAMPLES OF ACCIDENTS IN WHICH A PERSONAL UMBRELLA POLICY WOULD BE NEEDED.

* ONE EVENING WHILE ON THE WAY HOME, A DRIVER DOESN'T SEE A STOP SIGN AND BROADSIDES A CITY BUS. SEVERAL OF THE OCCUPANTS ARE INJURED, RESULTING IN AN EXTREMELY LARGE LAWSUIT.

* A FAMILY DOG BECOMES VERY TOUCHY AND BITES A CHILD. ALTHOUGH THE CHILD IS NOT SERIOUSLY INJURED PHYSICALLY, THERE ARE SOME RESULTING PSYCHOLOGICAL PROBLEMS. THE DOG'S OWNER IS SUED FOR A SUBSTANTIAL SUM.

* A MAN ON VACATION RENTS A BOAT. HE RUNS INTO A WATER-SKIER, SEVERELY INJURING THE SKIER'S LEGS. A LARGE LAWSUIT ENSUES.

* A HOMEOWNER IS RESPONSIBLE FOR A FIRE THAT SWEEPS THROUGH HIS CONDOMINIUM COMPLEX, RESULTING IN SEVERAL LAWSUITS.

 

ISN'T MY BASIC LIABILITY INSURANCE ENOUGH?

IT MAY BE, BUT THOSE WITH SUBSTANTIAL FINANCIAL RESOURCES USUALLY NEED MORE LIABILITY INSURANCE TO ADEQUATELY PROTECT THEIR ASSETS. YOU COULD BE SUED FOR AN AMOUNT FAR EXCEEDING YOUR STANDARD LIABILITY COVERAGE. IF YOU HAVE A PERSONAL UMBRELLA POLICY, THE ADDITIONAL LAYER OF PROTECTION WOULD COVER YOU FOR LARGER LOSSES (TO THE EXTENT OF POLICY LIMITS).

 

HOW MUCH CAN I LOSE THROUGH A LIABILITY SUIT?

JUST READ YOUR NEWSPAPER TO SEE HOW HIGH THE AWARDS CAN BE IN LIABILITY LAWSUITS. A LOT DEPENDS ON THE INDIVIDUAL CASE, OF COURSE. BUT WITH A PERSONAL UMBRELLA POLICY, YOU CAN BETTER PROTECT YOUR ASSETS (INCLUDING FUTURE EARNINGS) FROM A FINANCIALLY DEVASTATING LAWSUIT.

 

ARE THERE ANY OTHER ADVANTAGES?

IF YOU ARE SUED, EVEN IF THE VERDICT IS IN YOUR FAVOR, YOUR LEGAL FEES MAY BE EXTREMELY HIGH. IF YOU HAVE A PERSONAL UMBRELLA POLICY, YOU WON'T NEED TO PAY THOUSANDS OF DOLLARS OUT-OF-POCKET FOR LEGAL FEES.

THERE ARE CERTAIN REQUIREMENTS TO BE ELIGIBLE FOR A PERSONAL UMBRELLA POLICY. WE WOULD BE HAPPY TO DISCUSS THIS FURTHER. PLEASE FEEL FREE TO GIVE US A CALL AT (425) 885-5801 IF YOU HAVE ANY QUESTIONS OR WOULD LIKE A FREE QUOTE.