Updated January 1, 1 . AmFam Team
Whether on the road or at home, you do what you can to keep yourself and those around you safe. But accidents happen — and sometimes they can lead to pricey lawsuits. Have you ever considered what you’d do if you were sued for something like accidentally injuring a guest on your property or being at-fault for a major car accident? How would you cover the expenses? The primary liability coverage on your home, auto or recreational vehicle insurance may not cover all the costs. If you owe more than what your primary insurance covers, you’ll be left paying out of pocket.
That’s where umbrella liability insurance comes into play — consider it proactively planned lawsuit protection. How does it work? Let’s take a look.
Did you know that the National Highway Traffic Safety Administration estimates over six million car collisions occur annually in the U.S.? Or that the Center for Disease Control and Prevention also estimates about five million dog bites annually and over one million slip and fall accidents per year?
It can be a bit daunting to look at statistics like this, but it’s important to understand the risks in order to properly protect yourself.
If you’re at fault for an accident or injury and faced with a lawsuit, you may be required to pay above and beyond the primary liability limits on your homeowners, auto or recreational vehicle policy, especially if there are serious injuries. What would you do if this were the case? You may have to sell some of your assets, drain your bank account or hand over future earnings.
But this doesn’t have to happen.
Personal liability umbrella insurance helps protect all the things you work so hard for. If you have a liability lawsuit against you, umbrella insurance helps cover beyond what your primary liability coverage will pay for — keeping your assets, savings account and future earnings safe and sound.
Umbrella insurance has a few key benefits and facts that make it a great choice to help protect what matters most to you. Here are a few things you should know about umbrella insurance:
It’s something you hope never happens, but if you are sued, you’ll be happy you were proactive about protecting your financial well-being by adding umbrella insurance. Ready to get covered? Connect with your American Family Insurance agent (Opens in a new tab) and they’ll walk you through everything you need to know.
American Family Mutual Insurance Company S.I. & its Operating Companies 6000 American Parkway Madison, WI 53783