Umbrella Insurance Harford County: Ultimate Peace of Mind…
Who can really predict the weather? Even the pros get it wrong … a lot.
Similarly, who knows when a catastrophic accident or lawsuit could threaten to undo your life or your finances?
Umbrella insurance acts just like an umbrella, over all your other insurance policies, giving you an extra measure of protection, should the worst happen.
What is a Personal Umbrella Policy?
A “PUL” is protection from the financial ruin associated with a lawsuit. It provides the payment for legal expenses, incurred in your defense, up to the limits of the policy–whether you are found guilty or not!
Who should consider a “PUL”?
Anyone who has assets to lose! Just read the headlines. The courts are awarding larger amounts than ever before—many reaching millions of dollars—in liability cases involving injuries and property damage. Everyone is at risk, especially if you fit into any of the following categories:
- Do you have assets?
- Do you own any of the following? Swimming pool, hot tub, trampoline, rental property, boat, jet ski, motorcycle, large dog, or expensive car?
- Are you involved in youth sports or activities? Little league coach, referee, umpire, girl or boy scout leader
- Do you have a teenage driver?
- Are you a member of? Church groups, civic organizations, or volunteer organizations
- Do you? Participate in carpools? Host dinner parties or gatherings?
How much does a “PUL” cost?
The annual premium is about the same cost as one hour of legal defense!
Not Just for the Rich, or Business Owners…
Umbrella policies are very affordable, since they would only be needed for very large accidents for lawsuits. Hopefully, you would never have to use it.
But anyone could have an accident on your property, and if there were immense physical trauma, debilitation, or death, a lawsuit or medical expenses could possibly exceed the limitations of your homeowners policy. The same can be said for your auto policy, if the worst were to happen. How could you afford an extra million dollars of a jury award that is beyond your policy limits? It could devastate you financially.
From $1 – $5 million in additional umbrella coverage could save you from financial disaster. It is inexpensive peace of mind for sure.
Many factors determine the cost of your policy, including the restrictions of your carrier, the amount of coverage you elect, and your risk profile and driving record. You always save money when your umbrella policy is written by the same company as your other policies.
You’ve Seen Enough Law Shows on TV…
We live in a litigious society. Even when your insurance coverage limits are $300,000 or $500,000, there’s nothing stopping someone’s lawyer from asking for a million dollars or more in a settlement.
Why are victims prone to sue? Because the plaintiff pays nothing to start a lawsuit, juries and judges could go either way, and the reward can be high for both attorney and victim.
Either way, the cost to defend yourself in court can be very high, even if you win.
Contact us and let the umbrella policy insurance professionals at Gerety Insurance help you protect yourself from financial loss from a major event.
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