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Terry Gibson Insurance

1918 Union Blvd
Bay SHore, NY 11706

631-665-5700

insure@tgiagency.com

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Who needs a Personal Umbrella Policy?

You do, if you own a car and a home and want to properly protect your assets against a lawsuit or judgement. Think of a Personal Umbrella as your catastrophic lawsuit protection. It pays for your defense and provides settlement or award funds (jury trial) if needed. 
 
Keep in mind that you can be held personally responsible for any award that is not covered by your insurance ( i.e. your auto limits were too low) which means your personal assets can be attached, including your future wages.
 
A Personal Umbrella provides an additional (umbrella) limit of lawsuit protection above your primary auto, home or boat liability insurance limits. You can choose limits starting at $1 million up to $ 5 million with most companies. It's best to have all your insurance with the same carrier to avoid any coverage disputes and to ensure the most vigorous defense.
 
A Personal Umbrella will cover you, your spouse and your resident family members against a broad range of unforeseen accidents. Some examples can include:
  • car accidents involving bodily injury or death to passengers, pedestrians or others, as well as  all resulting property damage to other cars, buildings, structures, utilties, etc.,
  • injuries to others on your property while visiting, swimming, or injured by your pets,
  • allegations of libel, slander, invasion of privacy, or wrongful eviction,
  • boating accidents while entertaining, cruising, swimming or docking,
  • some claims while acting as a volunteer or unpaid officer of a non-profit organization.

A Personal Umbrella is the smart way to truly protect your assets. Best of all, it is the most affordable insurance protection you can buy, with the average annual cost for two cars and one home costing under $250 for $1 million of coverage. That's peace of mind.

Please contact us for more information on this recommended coverage.



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