Personal Umbrella Insurance in California
A personal umbrella policy is the ultimate way to protect your assets and your future. In addition to your standard lines of coverage, a personal umbrella provides an extra level of protection.
A personal umbrella policy covers you when your auto, home or other personal lines insurance policy is exhausted. A personal umbrella policy is a great way to protect yourself from a lawsuit that not only can impact your current assets, but your future earnings as well. Unfortunately, everyone is a target for a lawsuit. The simple fact is that in today’s lawsuit-happy culture, the unfortunate scenario of being sued for damages that exhaust your other policy limits is a real possibility. Ask your agent today about a personal umbrella policy.
With nearly every state in the country practicing financial responsibility laws, this makes every driver financially responsible for bodily injury, property damage and potential loss of income claims that may come as a result of a motor vehicle accident.
Similarly, homeowners need to protect themselves from a liability claim. Whether you’re hosting a party and serve too much alcohol, have a slip and fall accident on your sidewalk or your dog bites a neighbor, you can be held liable for medical bills, rehabilitation programs and lost wages.
Be sure to ask your insurance agent if you:
- Conduct business activities from your home
- If you’re in the farming business
- If you own other vehicles such as boats, motorcycles or RVs
- If you own other vehicles, property or aircraft that may be covered on another insurance policy
There are many reasons to talk to your insurance agent about an umbrella insurance policy. If you have questions, please call.
An umbrella policy may also pay claims that are not typically covered by other personal policies. Talk to a qualified Fred Simmons Insurance Agency agent today about a personal umbrella policy today.
Looking for a Commercial Umbrella Insurance? We have those too!
8 Scenarios That Would Warrant an Umbrella Insurance Policy
There are many scenarios that would warrant the need for an umbrella insurance policy. We outline a few of them here.
Example #1: Your teenage daughter is babysitting the neighbor kids and leaves the house for a moment to run to the store. When she returns, one of the children is badly injured and requires surgery. The child’s medical bills exceed $300,000. The parents of the children sue you to cover the medical bills.
Example #2: Your son dislikes his gym class as well as the teacher. He goes on social media and writes some very reproachful comments about the teacher that leave him in a bad light. The teacher sues and is awarded $500,000.
Example #3: Your 17 year old child decides to pick up some friends and go “cruising” in your car. He loses control of the vehicle while showing off how fast the minivan is. Each child is critically injured. Your umbrella policy helps cover the medical bills.
Example #4: You invite friends over to your home to celebrate the 4th of July. You provide all the entertainment, food and refreshments, including alcohol. One friend who is known for drinking too much, does just that, gets in his car and drives home getting in a terrible car accident that kills one person. The family sues you and you’re found to be liable for serving the friend too much alcohol.
Example #5: Your rental property’s deck is rotted and your tenant falls through it badly injuring their leg and requiring reconstructive surgery. A jury awards the tenant $750,000 for damages.
Example #6: You host a wedding on your property and rent a bouncy house. The house is not staked down and blows away in the wind with children inside of it. The kids are fine, but you’re sued for negligence. The families of the children are awarded $100,000 each for mental and post-traumatic stress.
Example #7: Your dog gets out viciously attacks the neighbors show dog. The dog can no longer show because it has scars and a limp. You’re sued for loss of income and a jury awards the dog owner $450,000.
Example #8: You’re the “cool mom” and agree to buy your kids and their friends alcohol if they promise to stay at the house. One of the friends leaves the house and is killed in an accident. He is found to be intoxicated. The parents of the child sue you for providing them with alcohol. A jury awards $2 million.
There are countless situations that can occur and exhaust your current liability limits on your home or auto insurance policy. The good news is that umbrella insurance policies are relatively inexpensive. Contact an agent at our office for your personalized umbrella insurance quote today.