Why do I need an Umbrella policy?

Why an Umbrella policy?  What does it cover?

Accidents happen, and almost as frequently these days, so do lawsuits.  The average settlement award has skyrocketed over the past decade. There is a chance that your auto or home coverage won’t provide enough coverage to adequately protect your assets.

And that is where an Umbrella policy comes into play.

An Umbrella policy will provide an extra layer of liability for protection against a lawsuit involving your:

Auto, Home, Recreational Vehicle (jet ski, snowmobile, etc), Rental Property and MORE!

Here are some real life examples of Umbrella claims and when the coverage kicked in.

1. Babysitter leaves baby in walker, steps away for a minute.  Baby in walker toppled down stairs suffering brain damage. Lawsuit filed against sitter. 

Family awarded $11,000,000

2. Daughter made disparaging remarks about her teacher on social media. Teacher files lawsuit against family. 

Teacher awarded $750,000

3. Group of children playing paintball. One child removed his helmet to hear his friend better across the way.  Boy was hit in the eye with a paintball.

Family filed lawsuit, awarded $575,000

4. Family having party with bonfire.  Someone throws an empty gas tank in the fire causing significant injury to crowd around the fire.

Everyone sues.  Award is significant. all parties are pulled in and their policy limits are maxed out.    

Why does our agency recommend an Umbrella?

  • Protect your assets.
  • Protect your current income.
  • Protect your future income.
  • Get defense in a lawsuit even if no coverage is afforded by your insurance policy.  How much would a lawyer cost you to pay for your own defense?  

Add  $1,000,000 in Umbrella coverage starting at $200 annually with our carrier partners, give us a call to get coverage in place today.


Request Your Proposal Here

Are you ready to save time, aggravation, and money? The team at Richardson Insurance is here and ready to make the process as painless as possible. We look forward to meeting you!

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