Protecting Your Ass(ets)


Don’t Wait for a Rainy Day

Many of us know exactly what an umbrella is…a rain shield when it’s wet outside, of course!  In regards to Property & Casualty insurance, an umbrella provides a different kind of shield.  One that can protect against financial ruin and even your reputation.

First, let’s talk about liability. Liability simply means the state of being responsible for something. Most of you are probably aware that your homeowners, automobile and watercraft policies include liability coverage. This portion of your policy is meant to protect you and your assets if you are responsible for causing bodily injury, property damage or personal injury to others.   

A personal umbrella policy provides additional liability limits over your homeowners, rental properties, automobiles, recreational vehicles (i.e., ATV/Go Kart) and even your watercraft policy liability limits[CW1].  An umbrella policy can also provide liability coverage that your primary insurance policy does not provide coverage for.

So Why an Umbrella?

We have all seen those commercials with the lawyers urging you to reach out if you have been involved in an accident or hurt on the job.  You can imagine if they are paying for the TV time, something is working in their favor. According to, there is approximately one new lawsuit filed every two seconds in the US. 

The most common personal injury claim stems from road traffic accidents. Each year there are approximately 6,000,000 (yes — MILLION) car accidents that occur in the US. So what happens when what you thought was a “minor fender bender” turns out to cost you hundreds of thousands of dollars in legal fees? This is an occasion when having an umbrella policy and not having an umbrella policy can be a life-altering differentiator. 

Premium wise, we are not talking about life-altering costs to protect your assets.  The average cost of a $1,000,000 umbrella policy can be as low as $17.00 a month, around $200 a month. How far can $200 go with an attorney these days?

It is recommended that when considering how much coverage you really need to take into consideration your net worth.  Your investment advisor can be a great resource for providing recommendations. 

If your still not convinced a personal umbrella policy is necessary or one of those “that can’t happen to me” types, check out the links below. 

Please contact your account manager for more details on reviewing your current umbrella coverages or adding an umbrella policy.  You will not regret it!