The risk of legal liability is a fact of modern life. It is perhaps the largest financial risk most individuals face. Common incidents, such as an automobile accident, or a neighbor’s child slipping on a kitchen floor, can result in lawsuits with damage awards of enormous size. Without liability insurance, most individuals and families could be faced with a financial disaster.
Personal Umbrella Excess Liability Insurance
Personal umbrella excess liability insurance is designed to provide liability coverage for situations where potential liability could exceed the limits of the protection provided in a typical homeowner’s, automobile, or watercraft policy. Those who have acquired wealth, and individuals practicing certain professions, often face such risks, simply because they are seen as having the ability to pay. To meet such needs, an individual may want to consider an umbrella excess liability policy.