You’ve worked hard for what you have. Unfortunately, judgments amounting to thousands or even millions are being awarded by juries across the country in ever-increasing numbers. If you or a member of your household accidentally injure someone or damage their property, you could be the one sued. Even though your underlying auto and homeowner’s insurance policies may provide substantial liability limits, it is not uncommon today for juries to award damages that exceed those limits.
A Personal Umbrella Liability Insurance policy acts as a second layer of liability coverage and sits on top of your primary liability coverage. If you end up getting sued for an amount that’s more than the primary liability coverage on your personal home, auto or other policy, you could have to pay out of pocket for the amount that exceeds your primary limit of liability — unless you have a Personal Umbrella policy. Coverage amounts are written in increments of $1 million and supplement your present policies; therefore, you are covered if the limits under your primary policy are used up. Your assets, as well as your future earnings, are protected.