Homeowner Umbrella Insurance
Protect Yourself with a Personal Umbrella Policy
Many people may feel they have adequate limits at $300,000 for their personal liability and $500,000 for their personal auto liability. However, the question you must ask yourself is this: Are my personal liability and auto liability limits enough to protect my personal assets from a catastrophic liability loss?
The answer is probably no, in today’s litigious environment.The following are examples of actual claims that exceeded $1 million in their payout of personal or auto liability:
- Insured collided with a motorcycle, causing fatal injuries to the driver of the motorcycle ($2 million).
- Insured struck an unlighted barge with his watercraft, triple fatality ($1.5 million).
- Insured’s teenage daughter went off the road, causing the auto to flip and ejecting all occupants ($5 million).
- Claimant fell down the insured’s stairs ($1.5 million).
- Claimant’s son drown in insured’s swimming pool ($2 million).
There is an easy solution: a Personal Umbrella policy. This policy has an average price between $150-$200 for a $1 million limit. A Pesonal Umbrella policy can provide you with additional liability limits up to $10 million and will protect your personal assets from a catastrophic liability loss.
Call Reno Insurance today to discuss adding a personal umbrella policy!