Yes! You Need an Umbrella Policy
Umbrella Policy
In the unfortunate event that you or your family are found liable for accidents to visitors in the home or accidents away from home, an umbrella policy can provide added protection which may be outside the coverage provided in your homeowners or auto policies. In the event of a lawsuit, if you are found liable and the liability limits for your home, auto or other liability policies are exceeded, an umbrella policy can provide the additional protection you need.
DID YOU KNOW...?
Both your homeowners and auto policies have liability limits based on your selection when opening the policy. In the event of an accident or mishap where you or your loved ones are determined to have liability, the damages awarded from a lawsuit may exceed the limits of your policy. Additionally, you may be sued for liabilities outside the scope of coverage in your homeowners or auto policies and it will likely require an attorney to defend your interests in these situations. An Umbrella Policy may provide the added protection you need from unforeseen financial risks.
BECAUSE ACCIDENTS HAPPEN!
The frequency and cost of lawsuits have increased dramatically during the past decade. Family life, daily activities or business operations may result in unforeseen lawsuit exposures. That's why people and businesses purchase insurance protection. However, without Umbrella Insurance they could be putting their house or business assets at risk!
In the unfortunate event that you or your family are found liable for accidents to visitors in the home or accidents away from home, an umbrella policy can provide added protection which may be outside the coverage provided in your homeowners or auto policies. In the event of a lawsuit, if you are found liable and the liability limits for your home, auto or other liability policies are exceeded, an umbrella policy can provide the additional protection you need.
DID YOU KNOW...?
Both your homeowners and auto policies have liability limits based on your selection when opening the policy. In the event of an accident or mishap where you or your loved ones are determined to have liability, the damages awarded from a lawsuit may exceed the limits of your policy. Additionally, you may be sued for liabilities outside the scope of coverage in your homeowners or auto policies and it will likely require an attorney to defend your interests in these situations. An Umbrella Policy may provide the added protection you need from unforeseen financial risks.
BECAUSE ACCIDENTS HAPPEN!
The frequency and cost of lawsuits have increased dramatically during the past decade. Family life, daily activities or business operations may result in unforeseen lawsuit exposures. That's why people and businesses purchase insurance protection. However, without Umbrella Insurance they could be putting their house or business assets at risk!
RECENT EXPERIENCES
(Example #1)
An insured's teenage son was driving his younger sister and friend to the movies. He lost control of the vehicle and hit a telephone pole. Severe injuries included the sister's friend losing the use of the right arm and suffering brain damage. The claim was settled for $1,350,000 which exceeded the liability limits on the auto policy.
(Example #2)
A 41-year-old periodontist suffered injuries to his face and fingers following an auto accident. A jury assessed the defendant damages at $576,000.
(Example #3)
Due to a faulty furnace, the insured's tenant claimed she became ill from carbon monoxide poisoning and filed suit for damages in the amount of $750,000.
(Example #4)
An insured's daughter hated her math class, as well as the teacher of that class. The daughter then made several disparaging remarks about her teacher on-line to her friends. The teacher successfully sued the parents for $750,000.
(Example #5)
A teenager who was destined for greatness as a softball player filed a $700,000 lawsuit against her former coach alleging that his 'incorrect teaching style' ruined her chances for an athletic scholarship.
(Example #1)
An insured's teenage son was driving his younger sister and friend to the movies. He lost control of the vehicle and hit a telephone pole. Severe injuries included the sister's friend losing the use of the right arm and suffering brain damage. The claim was settled for $1,350,000 which exceeded the liability limits on the auto policy.
(Example #2)
A 41-year-old periodontist suffered injuries to his face and fingers following an auto accident. A jury assessed the defendant damages at $576,000.
(Example #3)
Due to a faulty furnace, the insured's tenant claimed she became ill from carbon monoxide poisoning and filed suit for damages in the amount of $750,000.
(Example #4)
An insured's daughter hated her math class, as well as the teacher of that class. The daughter then made several disparaging remarks about her teacher on-line to her friends. The teacher successfully sued the parents for $750,000.
(Example #5)
A teenager who was destined for greatness as a softball player filed a $700,000 lawsuit against her former coach alleging that his 'incorrect teaching style' ruined her chances for an athletic scholarship.
WHEN SHOULD YOU CONSIDER AN UMBRELLA POLICY?
- If your assets are greater than your insurance liability limits.
- If you are financially responsible for children.
- If you frequently host guests on your property.
- If your residence includes a swimming pool.
- If you own a watercraft or off-road vehicle.
- If you own rental or vacation properties.
- If you participate in volunteer activities.
River City Insurance is happy to provide you with a quote for this coverage.
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