Personal Liability (Umbrella) Insurance
Your teenage daughter rear ends another car. Your dog gets frightened by a passerby and bites him. An injury. A lawsuit. A judgement rendered against you. A settlement that exceeds the liability limits of your auto or home insurance policy. Personal Liability Insurance can prove to be lifesaving sooner than you think, so consider obtaining coverage to protect your assets.Get a Quote
Protection for Your Assets
Just like an umbrella covers you against the rain, an Umbrella Insurance policy provides an additional layer of personal liability coverage that kicks in when your auto or property liability limits are exhausted. It is designed to help protect your current and future assets, including investments and savings, from unforeseen events that occur anywhere in the world, in which you are held responsible for bodily injury or property damage.
At Kuzbiel Insurance Brokers, we work with a variety of insurance carriers to provide coverage options that are specific to your needs. We also review your policy at every renewal and keep you informed about any alternative offers.
Do I need a Personal Liability Insurance?
Consider this scenario: Your teenage son is involved in a serious car accident and you are being sued for $1 million. The judgement is rendered against your son and you are responsible for covering the other party’s bodily injury and property damage costs. Your personal auto policy has a liability limit of $300,000 per accident. Without an Umbrella Insurance, the remaining $700,000 has to come out of your pocket.
Anyone can get into a car accident that will result in a lawsuit greater than the liability limit of a standard auto insurance policy. If you are found to be at fault, you may end up having to sell your assets or pay out of your future wages for the damages that exceed your primary insurance policy.
How much coverage do I need?
The amount of excess liability coverage should be determined based on your current net worth as well as your future earning potential. Some questions to consider when determining how much coverage you need:
Do you have children? Teenagers? Do they drive? Do they often have their friends over?
How often do you drive? How long is your commute?
How often do you invite people over to your house?
What is your job / profession?
Do you travel abroad?
Do you own rental properties?