Excess Liability Coverage / Umbrella Coverage
(MoneyWatch) Most people don’t give the risk of a lawsuit a second thought. But with liability law suits on the rise and attorneys seeking larger awards, the risk is very real.
Most home insurance policies cover only liability claims up to $300,000 for personal liability and most automobile policies provide up to $250,000 per person and $500,000 per accident for bodily injury.
In a lawsuit you can lose your life savings, investment portfolio, even the equity on your home.
If you entertain in your home or boat, have several assets to your personal name and/or have a tendency to drive just a bit over the speed limit, we suggest you get an excess liability policy that is equal or greater to your net worth to protect your assets in case of a lawsuit.
Call us for more information at 305-899-5125.