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While most people are aware of the traditional auto and homeowners insurance products, many are unaware of the availability and affordability of a Hidden Treasure:  Umbrella Liability!

Did you know that your homeowner’s liability does not cover many liability exposures that an umbrella liability policy does?  Some of the exposures covered under the umbrella liability but not the home liability include libel/slander (written and spoken defamation), wrongful imprisonment, and wrongful eviction.  Landlords need to take note of that last one!

Do you travel internationally?  Perhaps you rented a car in Europe last month?  It wasn’t your auto policy that covered you!  Only the umbrella liability policy extends outside of the good ole’ USA!

Do you have children?  Young dependants often represent an added exposure for Mom and Dad.  New drivers are much more likely to cause an injury related accident, the liability of which often falls to the parent’s.  Is your child a tech-savvy guru?  Of course they are!  Our children’s online adventures can often result in exposure to lawsuit.  Bullying, libel (written defamation), and “sexting” are just a few examples of a parent’s potential exposure to lawsuits.

An Umbrella Liability policy is traditionally meant to protect you from the costs associated with lawsuits. Which would you prefer to spend $200* a year for an umbrella policy or $200* per hour for an attorney to defend you? Umbrella policies even cover attorney fees!

Bottom line:  The umbrella liability policy is the single best way to protect against the financial devastation brought on by liability lawsuits.  Call your agent and protect your family’s assets today.  You’ll be buying peace-of-mind should the un-thinkable happen!

Watch for my next blog:  Hidden Treasure:  Life Insurance!

Author – Tom Cloherty

Tom is a licensed agent with Doyle & Ogden Insurance Advisors with over 10 years of insurance experience.