We are often asked the question, “How much liability insurance do I need?” While it is difficult for us to answer this question – because we cannot see into the future – we can say the more assets you own, the more liability coverage you need. A legal claim against you could put your assets at risk:
- Your home
- Your savings
- Your future earnings
- Your fun – vacation home, boat, motorcycle, etc.
All kinds of accidents can lead to an unwelcome legal claim. Car crashes, dog bites, slips & falls by your guests, a dead tree falling or a guest drinking too much are the most common sources of litigation. Fortunately, umbrella liability is inexpensive when compared to other forms of insurance. Think of an umbrella liability policy as the top block on a stack of building blocks. The bottom blocks are your auto, homeowner, boat, motorcycle, or secondary residence liability. The umbrella policy stacks on top of these foundation policies. If a claim is made against you, the total liability amount available to protect you can be calculated by adding up the limits of both policies. Umbrella coverage is contingent upon the active status of the bottom “underlying” policies.
Call us (386) 752-8660 to learn more or get free no-obligation advice.