Some examples of how an umbrella policy can help protect your financial security and peace of mind:
Your daughter causes a car accident
While in high school, your 17-year-old daughter causes an accident that seriously injures a company’s top two executives. Your auto liability insurance limits may not be high enough to cover their medical expenses and lost income while they recover.
Your injured guest needs long-term care
A guest at the pool party you’re hosting slips on the pavement and falls onto a stone-paved deck. She’ll be okay — but will need back surgery and ongoing rehab. The cost of this care will exceed the limits of your homeowners liability insurance.
You flood your downstairs neighbor
You forget you left your bathtub running when you get distracted while checking for mail in your apartment building’s lobby. While you’re gone, the tub overflows — saturating your downstairs neighbor’s home office. Renters insurance won’t cover the full costs of damage to her property and business.
