In today’s world lawsuits are a daily occurrence, it seems anyone could be sued for anything at any time, weather the lawsuit is frivolous or not is a matter for the courts. However, you do want to make sure you have sufficient liability coverage to protect your home, retirement, and other assets.

Here are some questions you may want to think about, courtesy PIA:

• Would I be covered under my homeowner’s policy if I am sued by someone who was seriously injured on my property?

Your homeowner’s policy will most likely protect you, but only up to the liability limits of your policy and only if the injury did not involve molestation, physical or mental abuse or corporal punishment. Since society has become so litigious the liability coverage on your homeowner’s policy may not be sufficient.

• What about my automobile policy?

Similarly, your automobile policy provides coverage in the event of a vehicle-related lawsuit, up to the limits of the policy.

• What would happen if I was held liable for a settlementmthat exceeded the limits of my insurance coverage?

You would be held personally responsible for paying any portion of the settlement that your insurance company did not pay. Yourmpresent assets—your home, your savings account, your car and any other assets you might have—as well as your future earnings could be taken from you to pay the settlement.

• Do I need to buy an Umbrella Policy?

Umbrella policies are extremely affordable, and they provide broad coverage.  An umbrella policy, also known as catastrophe excess liability policy, or excess liability policy, “sits” overtop your current liability polcies and becomes effective when your underlying coverage limits are exceeded. Some underlying policies may be, your homeowners, auto, boat, and/or RVs.

Umbrella polices should be considered by any homeowner, investor, someone with reitrement savings etc. Just look around your home add its value, everything in it, the value of your autos, the value of your savings, the value of your retirement, would your current liability limites cover all of that? If not you will want to protect yourself with a personal umbrealla, you would be surpised to discover just how inexpensive a million, two million, three million, etc policy is.

Call us today at (877) 587-2886 for a quick quote