Umbrella Policies

Sometimes you need an extra level of protection over and above the liability insurance provided in your underlying auto, homeowners, or watercraft policies. We offer residents umbrella, or personal excess liability coverage that will protect assets and future earnings in the event that primary policy limits are exceeded.

This gives you peace of mind in knowing that while you can't predict what might happen, we can provide you with extra coverage to help protect you from it.

Jury awards and out-of-court settlements routinely run into hundreds of thousands or even millions of dollars.

Add to this the cost of legal fees, and the expense becomes staggering. An unexpected catastrophe could result in a large judgement against you. Without adequate protection, your current assets could be placed in serious jeopardy.

A personal umbrella policy could protect you against excess liability judgements for loss, injury, or even death caused by negligent acts. It is designed to provide liability protection over and above the insurance policies you currently have.

Why Do I Need More Insurance?

You may say- "We have auto insurance and homeowners insurance coverage. That should be sufficient. Why would we need an umbrella policy?"

In today's society, lawsuits are occurring with alarming frequency. Moreover, the monetary awards can be staggering.

Your current insurance will protect you against a minor misfortune, but it probably would not give you the needed protection against a catastrophic loss.

How Much Insurance is Enough?

While no one can know for sure, the most recent government report shows that household net worth grew significantly from 1995 to 2004.

All homeowners +44%
Self-employed +75%
College graduates +76%
Top 10 incomes +112%
Source 2004 survey of Consumer Finances U.S. Federal Reserve Bank

To ensure you're protected agains the unknown, resetting liability policy limits can be a critical as reallocating invested assets.

You likely have liability coverage–auto, homeowner's or watercraft liability. In the event of an accident, these will give you protection for bodily injury and property damage, or both–but only up to your policy limit. Beyond that, you would be responsible for paying excess amounts for which you are liable. That excess amount could be several million dollars!