Umbrella Coverage

Insurance policies are designed to help cover expenses you might occur as the result of an adverse event. But what happens if those expenses are significantly higher? Say hello to personal umbrella insurance.

Personal umbrella insurance is particularly pertinent if you face a lawsuit. The costs of a court battle can force a defendant to sell their home, vehicle or other possessions, while preventing them from providing their family with the life they deserve. Texas personal umbrella insurance can help mitigate these added costs, which will likely exceed the limited amount of liability covered under the typical Texas auto, homeowner's or boat insurance policy.

But that's not all! Even if you stay free of lawsuits, personal umbrella liability insurance can help you protecting your assets and your future with an added level of coverage.

What's a peace of mind worth to you?

If your home or auto claim is above your coverage limits, your umbrella insurance policy can provide you with additional protection. The cost is minimal compared to the peace of mind you'll receive as a result of the higher level of coverage.

Do you have enough liability insurance?

While general insurance policies can help cover several liability-based disasters, others might require additional coverage. If your dog were to bite a neighbor's child, there was an accident on your rental property, or a fire in your condo spread to other units, current liability limits likely wouldn't be adequate to protect your assets or future earnings. Personal umbrella insurance coverage, on the other hand, would keep you protected.

Lawsuits Are Not Limited to Your Net Worth

While the standard insurance coverage you receive is based on aspects of your net worth — such as your financial status, lifestyle and existing coverage — judgements in liability lawsuits can exceed your net worth. Personal umbrella insurance can help keep you and your assets protected.

Liability Insurance Starts When the Others Stop

Once the liability limits are exhausted on your home, auto, or other policy, your umbrella policy can provide at least $1 million worth of protection. Our carriers policies can go up to $100 million if needed.

Broad Coverages

Umbrella insurance policies can pay claims not covered by your standard home or auto insurance policy, and it can also cover legal defense fees. The policy can cover your spouse and any other family members living in your household. Additionally, our carriers policies have the option to add unisured/underinsured motorists coverage, employment practices liability insurance, and non-for-profit board liability coverage.

Savings to You

A personal umbrella liability insurance policy can be surprisingly affordable, particularly when you consider the extra security and protection it provides. The average cost of a policy is just pennies a day.

Real-Life Claim Examples

The following examples demonstrate the importance of personal excess liability insurance:

Underinsured motorist - A recently retired executive was looking forwarding to spending his "golden years" with his family. While en route to his granddaughter's soccer game, he was rear-ended by another driver. He lost control of his vehicle and it rolled over. Tragically, he sustained fatal injuries. The driver who caused the accident had policy limits of only $400,000 — not nearly enough to properly compensate the estate and family for their loss.

High-powered golf cart - Many owners of large estates utilize golf carts to navigate their properties, and some spend large sums of money to "soup up" the carts with gas-powered engines and high-end stereo systems. These upgrades are akin to the features inside an automobile but, unlike cars, golf carts lack safety equipment such as seat belts and air bags. A 16-year-old was driving just such a golf cart with a friend to the country club located a short distance away in her gated community. While traveling at a fairly fast speed and with the music blaring, the teen made a sudden left turn. Her passenger was ejected from the cart, sustained a serious head injury and had to be air-lifted to a nearby hospital. The accident resulted in a seven-figure settlement.

Charity event at the home - A couple offered to host a charity auction at their estate. During the set-up, several workers arrived to deliver the items up for bid. The housekeeper barred the workers from moving a rather large item through the home. Instead, she instructed them to take a route around the side of the house and through the pool area. The tiled patio was wet due to the morning dew, causing one of the workers to fall, fracture his wrist and fall into the pool — where he almost drowned. He later developed a chronic/progressive neurological disorder with no known cure. Although they weren't even on the property at the time, the homeowners were sued; they were vicariously liable for their staff member's actions and the subsequent injuries.

Malicious prosecution - A private collector loaned a famous painting to a family member and later requested its return. The relative refused, claiming that the painting had been a gift. In response, the collector contended it was stolen; he filed a police report and litigation ensued. Additionally, the collector sent unflattering e-mails about the relative to various individuals in the art community. The painting was eventually returned and the collector dropped the theft lawsuit. However, he was then sued by the relative for malicious prosecution and defamation.

Employment practices liability - A housekeeper who worked for the same family for nearly 15 years filed a wrongful employment claim against her employer. The lawsuit consisted of more than 20 counts, including wrongful termination, sexual harassment, false imprisonment and invasion of privacy. The family members, including the children, were forced to testify during a lengthy trial, which ended with a hung jury. Although the case was ultimately settled, over $1 million in legal fees had been incurred.

For more information on how to obtain an umbrella policy please give us a call at 1 (877) 868-8063 or 281-395-5497.