What are the odds that you will be sued? Do you understand the risks that you face each day?

First of all, you do not need to be a millionaire to be sued. All you need to do is drive and work!!

If you watch television commercials, you have an idea of what you are up against. Think commercials featuring attorneys promising big payouts if the injured party calls them and not the insurance company after an auto accident!

Does an umbrella policy pay legal expenses?

Yes, most umbrella policies provide the legal defense and the attorney to represent you. And most often, the legal defense cost is outside the limit (the $1,000,000 limit on the policy). This in itself is a most valuable coverage!

Are umbrella policies expensive?

Not compared to auto insurance and homeowners insurance!! Typical cost is in the $200 to $300 range.

How is the premium calculated?

The premium is based on the number of residences you own, the number of rental properties, the number of vehicles and drivers, the number of boats, etc.

Do you have a Personal umbrella policy with at least a $1,000,000 limit?

You need to answer this question! But you probably should have one!

Can I get more than $1,000,000 coverage?

Yes, most companies offer limits up to $5,000,000.

Why are these policies called an umbrella?

The policy provides coverage over your other policies, like your auto policy, your homeowners policy, your boat policy and so on.

Posted 3:59 PM

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