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Umbrellas – Because it could rain on your parade!

June 2, 2015

You weren’t expecting that door-to-door salesman in the first place, which is why you didn’t answer his knock. But after he fell walking away on your driveway, the lawsuit he filed against you was more expensive than the vinyl siding he was peddling.

Carrying an umbrella policy can not only protect you against such as a nightmare, it will save you from losing your home and assets.

At Founders, we’re all about protecting your assets. We’ve put together a list of reasons why you should consider purchasing a personal umbrella policy.

Your standard insurance may not cover the cost of a lawsuitAwards for lawsuits are higher today than ever before, and there are more of them. It is not unusual for some awards to surpass one million dollars, especially if there is an injury or a fatality. Medical bills are also much higher today, and if several people are injured, or killed, you can ist2_5763251-umbrellaexpect high costs.

Everything Could Be at Risk

You are only a lawsuit away from losing everything you have worked hard for. Once an accident occurs and a lawsuit is filed, there is no going back to get personal umbrella policy coverage.

You are at greater risk if you earn a high income. When people know you have money and property, they tend to raise the amount of the lawsuit. Owning a swimming pool, watercraft or ATV’s, or rental properties, may also increase your likelihood to have an accident.

Do you throw a lot of parties?  Step back and think about what could happen….yes, we want you to think about worse case scenarios.

You May Need to Pay for Defense Costs

Lawyer’s fees to defend yourself against a lawsuit are expensive. A personal umbrella policy, will cover some of your lawyer fees if you win the case.

Your Personal Savings Are at Risk

You might have more assets than you realize. If you have a second home, or various types of savings, you are also at risk. This may include savings and retirement accounts, investments, as well as money you earn in the future.

Bad things happen to good people – that’s a fact of life.  Liability coverage in the form of a personal umbrella is very inexpensive!  1 million dollars in coverage is typically less than $500 – depending on your assets, risks and the carrier you are with.  You know we can’t give an exact number until we ask you a few questions!

Why not give us a call at Founders Insurance Group 860-482-3506.  We can walk you through the process (it’s quite painless) and get you properly covered right away!

Patty Patrone-Onofrio

Personal Lines Account Manager

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