If someone is hurt on your home or property, whether falling down your stairs, swimming in your pool, or riding your horse, you can be legally liable for their injuries. That’s where a Personal Umbrella policy can help. With lawsuits for liability going up to $10 and $20 million, your umbrella policy will cover you beyond the liability coverage limits of your homeowner or auto insurance policy. Otherwise, that money would have to come from you personally. An accident could potentially exhaust your savings quickly.
You are especially at risk of being sued if:
- you own a swimming pool or trampoline
- you own a horse
- you have a young driver in your family
- you have athletes who are skiiers, snowboarders, or racers
- own rental property
- own a boat
- Do you own any motorcycles or mopeds or off-road vehicles?
- Who besides you and your family uses your car?
- Are you are farmer or do you own a farm?
- Do you have any employees at your home?
- Do business clients come to your home?
- Have you been denied insurance coverage during the last 5 years?
- What is your net worth?
- Are there any drivers on your current insurance policies under the age of 25?
- Do you own, lease, or charter an aircraft?
- Do you use your boats or planes for business?
With Personal Umbrella insurance, you can a great deal of coverage for reasonable costs. Coverages start at $1 million, but you can go as high as $5 million. The total annual premium for a $1 million umbrella is very affordable.