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 The Lawsuits
Today, lawsuits are everywhere. Courts are awarding larger amounts of money than ever. Homeowners, auto, and watercraft policies have a limit on liability insurance. If an unfortunate accident should happen that is your fault, do you have enough liability insurance from your current policies to cover your costs for negligence? Since no one can predict how much a judge may award an injured person, umbrella insurance is not just for the wealthy anymore, but a needed protection for every policyholder.
Umbrella insurance is designed to give one added liability protection above and beyond the limits on homeowners, auto, and watercraft policies. With an umbrella policy, depending on the insurance company, one can add an additional 1-5 million in liability protection. This protection is designed to "kick-in" when the liability on the other current policies has been exhausted.
Personal liability umbrella insurance can give one added liability protection without a large added cost. Additional liability insurance is often inexpensive, especially compared to the added coverage one gains. Furthermore, liability insurance covers one's non-business activities anywhere in the world. Having the added protection of a liability umbrella is coverage no one should go without.
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