Personal Umbrella / Excess Liability Insurance
Excess liability insurance provides you additional protection in the event that you are sued. This type of coverage responds when the underlying liability limits of your other insurance policies, such as home, auto and watercraft, are not enough to cover the cost of an unexpected lawsuit or accident.
If you don’t have the right coverage, an unfortunate situation can compromise your financial security.
Here are some of the benefits offered by our insurance company partners:
High Liability Limits
Many of our carriers offer limits from $1 Million to $100 Million. A conversation with your financial advisor reviewing all of your assets that require excess liability protection will help you select the right limit.
EPLI / Employment Practices Liability
This offers additional protection if you employ staff in your home such as nannies, housekeepers, or gardeners. If you employ domestic staff you can add coverage to protect against wrongful employment allegations and crisis management services to help preserve your reputation.
**This is provided as a matter of information and is not a complete policy. Coverage is subject to all policy terms, conditions and exclusions.
Real Life Liability Examples:
Swimming Pool Injury
Personal Excess Claim Payment: $19,000,000
This client had a summer party at their home which involved swimming. A 5 foot inflatable rubber raft was in the pool. A guest jumped off a diving board and onto the raft, fell off the raft and into the water, hitting their head leaving them paralyzed. The client was found negligent for allowing the raft in the pool. The client’s excess policy covered $9 million in damages for medical expenses, $3 million for pain and suffering, $3 million for loss of life’s pleasures, another $3 million for embarrassment and $1 million for disfigurement.