February 24, 2020
Are You Exposed?

A personal Umbrella policy is commonly used to protect individuals and families from exposure to a lawsuit originating out of bodily injury or property damage to a third party. In addition to auto accidents, umbrella policies protect against swimming pool injuries, dog bites, among other exposures. 
Lawsuits and judgments associated with common accidents, injuries, and accusations are a real threat to financially successful families. The more assets you own, the more vulnerable you may be. 

Your personal home and automobile policies provide a primary layer of liability coverage to protect you from lawsuits. Personal injury lawsuits arising from unintended libel or slander are becoming more common. A Personal Umbrella, or “Excess Liability” policy provides higher limits of coverage that responds if your primary limit were exhausted. These policies begin with limits of $1MM, up to $10MM, and higher with many carriers. 

The coverage is intended to include all owned, rented or occupied residences, owned or leased automobiles, as well as watercraft or recreational vehicles. With many homeowner insurers, personal injury coverage must be added by endorsement.

Some insurers offer options that can be added to the personal umbrella coverage, such as:

  • Excess Uninsured/Underinsured Motorist coverage - responds in excess of a claim on your primary automobile policy for medical bills, pain/suffering and rehabilitative expenses outside of your medical insurance.
  • Employment Practices Liability Insurance (EPLI) –can help protect you from a lawsuit brought on by a housekeeper, nanny or other domestic employee claiming their legal rights have been violated.
  • Directors & Officer Liability (D&O) – covers not for profit board members who are held liable for the actions or inactions of the organizations they serve.

If you have any questions about your coverage, please contact us via email or at 203-259-7580.