One of the most important insurance policies you can buy is the personal umbrella policy, but many people are unaware they need one. This policy provides high limits of liability to protect you against a catastrophic liability loss. It pays after your homeowners or personal auto policies’ limits have been exhausted.
In particular, you should consider purchasing a personal umbrella policy if you have certain characteristics or engage in certain activities, including the following:
Your total assets are greater than your underlying liability limits.
You are financially responsible for the actions of a young, inexperienced driver.
You live in an exclusive and affluent neighborhood.
You have a high profile career or high income.
You frequently host guests on your property.
Your residence includes a swimming pool.
You own waterfront property, a farm, or a ranch.
You own watercraft or aircraft.
You own numerous rental properties.
You engage in extensive international travel for pleasure.
A Personal Umbrella is a low-cost policy designed to protect you, your family and your future against catastrophic lawsuits and judgments. Contact your client advisor today to discuss a personal umbrella policy.
