Some insurance claims can seem unbelievable. A personal umbrella policy adds a crucial layer of asset protection above your insurance policy limits for accidents and claims that go beyond your wildest imagination. For example…
A hillside on an insured’s property was covered with concrete to prevent erosion. The concrete had been installed before the insured purchased the property. Approximately 5 feet of the concrete fell to the neighboring property knocking the claimant’s home from its foundation. The resulting claim was settled for $970,000.
An insured’s tenant claims she became ill from carbon monoxide poisoning resulting from a faulty furnace. The tenant claimed permanent brain damage and demanded $750,000.
An insured slid through an intersection on icy roads and hit an elderly woman crossing the street. The elderly woman was hospitalized with multiple injuries. The insured’s personal umbrella policy limit was paid in full- $2 million.
Not all claims are avoidable, that is why you purchase insurance. When things go wrong, it’s important to have a knowledgeable agent to help make things right.The above scenarios are real-life stories that could happen to anyone; you don’t need to have a lot of money to get sued.
Having an umbrella policy could prevent and limit out of pocket expenses. Rates are usually affordable and well worth the cost. If you already have