Newspapers tell us the stories of lawsuits on a daily basis: cases in which juries award multi-million dollar awards for injuries and even death resulting from car, home or boating accidents.
If you are like others who have not purchased enough liability coverage, you could face catastrophic losses from any number of accidents. This can result in financial ruin for you and your family.
What is the solution? General insurance protects you along with your current auto, home or boat coverage by providing additional protection that kicks in once your other limitations are exhausted.
The Personal Umbrella Insurance Policy: A Vague Definition
By working as a catastrophic prevention plan, the personal umbrella policy covers you and your family from liability in the event that a jury decides to award others and you must pay the amount.
The general policy has additional liability limits on your home, condo, or renter’s policy, as well as your auto policy of at least $1,000,000. More coverage – up to $5,000,000 can also be purchased. This can provide protection against risks that may be excluded from any current policy.
Examples of Related Lawsuits
1. A neighborhood boy was helping to clean the gutters for a homeowner. The child unexpectedly slipped and fell from the roof, sustaining an extensive neck injury. One lawsuit ended with the injured boy being awarded $1,500,000 to pay for the numerous surgeries he needed.
2. After a car accident that resulted in the serious injuries of a single mother and her 2-year-old son, the jury awarded $1,700,000 against the motorist who caused the accident.
3. A vacation at a ski resort ended in tragedy when the teenager lost control down a mountain and collided with four people, resulting in serious injuries. $1,200,000 was awarded to a victim who suffered from having a disfigured face.
4. While driving her son and his friends to a baseball game, a mother was in a car accident. Some children suffered serious injuries. The parents sued the driver of the car, and the court later awarded amounts totaling $1,600,000.
Everyday scenarios that can happen to anyone…
Are you considering a general policy? Look at your current income and assets, as well as your future income and assets. There’s no better time to build more defensive protection for your family than today.
Are you:
• Owner of a house or condo?
• To return?
• Owner of a car or vehicle?
• A parent of a young driver?
• Do you own a boat, ATV or motorcycle?
• A family with children?
If you fall into one or more of the categories listed above, talk to a knowledgeable independent agent who understands your needs and no more on the subject of general insurance.