5 Scenarios Where an Umbrella Policy is Warranted.

June 06, 2023

An umbrella policy is an inexpensive way to help protect yourself against significant claims where damages exhaust your primary policy limits and threaten your finances and your lifestyle.

Here are 5 scenarios where umbrella coverage. sometimes referred to as excess liability coverage, is critical:

  1. Your 17-year-old is driving herself and her 3 friends to school. She takes her eye off the road to change the music on her phone app and veers off the road, hitting an electric poll. Everyone is injured pretty badly and the other kids’ parents sue you for bodily injury and negligence. 
  2. While vacationing at one of the many beautiful lakes in the United States, you rent a boat which you accidently crash into another boat. One of the passengers falls off the boat and drowns. 
  3. Your dog gets off his leash, runs into the street, and causes a 4-car pile-up. Two of the cars are totaled and most of the drivers and passengers are injured. They all sue for bodily injury and property damage.
  4. You have a bad day and the cashier at your produce stand really makes you angry. You go to social media to rant about him and the store. Both the cashier and the store sue you for you for defamation and the resulting loss of business.
  5. Your tenant and some of her friends decide to have a relaxing night out on the deck of your rental unit. Unfortunately, the deck has dry rotted over the years and collapses resulting in serious injuries to all.

Luckily, these are not everyday occurrences. That said, when accidents do happen, they can rack up costly liability expenses including bodily injury, personal injury, loss of wages, pain and suffering, and defense costs, for which you may be liable.

Call us today for a quote. You may be pleasantly surprised at how affordable this coverage can be. Talk about bang for your buck!.