Come Rain or Shine, Why You Always Need an Umbrella

Posted on 10/4/2015

What is an umbrella policy?  An umbrella policy provides an added layer of liability protection for bodily injury or property damage you cause to others. It is excess insurance over your existing homeowners,automobile and other personal liability policies. Umbrella policies provide a minimum of $1,000,000 in coverage with higher limits available.  Premiums are usually less than $1 a day for a $1,000,000 policy.

Why do I need an umbrella policy?  A personal umbrella policy gives you peace of mind knowing you are protecting your assets.  Sure you have some protection under your auto and homeowner insurance policies, but that may not be enough. If someone is seriously injured because of your negligence, you are going to be sued.  Once that lawsuit is filed, imagine the relief you will feel knowing you have at least a $1,000,000 in coverage. 

Who needs an umbrella policy?  Anyone with existing assets or with future earnings potential. 

Here are just a few situations that increase your liability exposure and warrant an umbrella policy:

  • You have youthful operators driving your family vehicles
  • You have a swimming pool
  • You entertain frequently at your home
  • You own rental property

If you would like addtional information on an umbrella policy, contact us or call our office @ 781-767-3300.

Coming up in our next blog we will give you examples of actual claims that have resulted in judgements in excess of $1,000,000.