In today’s economy, everyone is pinching pennies. So why worry about umbrella coverage? Shouldn’t a home and auto policy leave you adequately covered?

Whether you are at fault for an auto accident or someone is injured on your property, you can be held responsible for other people’s medical expenses, pain and suffering, property damage, and even lost wages. You don’t have to be a millionaire to be sued like one, as we live in a world of lawsuits. You can quickly find yourself responsible for damages that exceed the limits on your auto, homeowners or renters, rental property, or boat policy. An expensive judgement is the last thing you want to worry about and without adequate coverage, it can be expensive and have a long-term financial impact. A Personal Umbrella offers extra liability coverage above and beyond the limits of your other personal policies. Many financial planners recommend that everyone have at least a $1 Million Personal Umbrella policy, even if they have less than $1 million in assets. The reason being that in the rare event that you are sued, you could be forced to pay a legal judgement from not only your current assets but also your future earnings. This policy can also pay for defense costs which add up very quickly, even if you win your case.