What is a personal umbrella?
A personal umbrella provides affordable coverage beyond your basic polies, such as your homeowners, auto, farm, or watercraft policies. It helps you protect your assets and future earnings, and pays for defense costs, in the event you are sued.
Do I need it?
Yes - because everyone makes mistakes that can lead to a lawsuit. Even if you're not at fault, a Personal Umbrella policy can cover defense costs. For example, during Adam's holiday party at home, his friend slips on a wet floor and strikes his head hard on the counter. Recovery includes a long hospital stay and rehabilitation. Adam's homeowners policy maxed out at $300,000, and his Personal Umbrella paid $2.5 million. Without the Personal Umbrella, John would have lost his home and paid the cost out of his own pocket.