Shield Yourself with Extra Protection from a Personal Umbrella Policy
AAA Insurance
Do you have a teen driver?How about a swimming pool or hot tub in your backyard? Do you ski or water ski?Most of us haven’t considered all the ways we are vulnerable to potentially costly lawsuits.
A personal umbrella policy offers an extra level of liability coverage over and above your automobile or homeowner’s policy. This insurance kicks in when your other liability limits have been reached, and it offers significant protection against liability claims or lawsuits for serious personal injury.
For example, if your homeowner’s insurance has a $500,000 liability limit, but a catastrophic accident occurs and you are responsible for $1 million in medical bills, property damage and legal fees, a personal umbrella policy can cover the remaining $500,000, thus protecting your assets.
Here are a few situations that could put you at risk for a lawsuit. Consider a personal umbrella policy if any of them apply to you.
- Having a young driver on your auto policy. Drivers ages 16 to 19 are nearly three times more likely than older drivers to be in a catastrophic—and expensive—crash, according to the Insurance Institute for Highway Safety.
- Owning a swimming pool or hot tub. Note that pools with a slide or diving board increase your risk even more.
- Participating in high-risk recreational activities. Snow skiing, water skiing or boating can all result in devastating accidents involving others for which you might be liable.
- Owning rental property. Consider protecting yourself from costly accidents at your property.
A personal umbrella policy covers you for most liability claims that result from a covered accident involving your home, car, recreational vehicle, or rental property. You’ll generally be protected up to the limits of your policy from bodily injury, property damage and personal injury damages such as libel or slander claimed by others.
To learn more about personal umbrella insurance, call 855.282.2275, visit AAA.com/Insurance or stop by your local AAA South Jersey office.
