What is Umbrella Insurance?
Just like an umbrella that covers you from an unforeseen summer shower, an umbrella insurance policy covers you from unforeseen issues that life may throw your way. An umbrella policy is a type of personal liability insurance that will protect you and anyone else in your family or household.
Umbrella policies have become very popular in recent years due to the rise of civil case lawsuits. Just within the last year alone, there has been an 11% increase in civil lawsuits. An umbrella insurance policy is a great way to protect yourself and your family in case any legal issues arise in your life.
Think You Won’t Get Sued? Think Again.
I know that you’re thinking, “Oh me, I am never going to get sued!”, but think again. In all reality, there is a strong likelihood that you can get sued. A study in 2020 surveyed 1,000 men and women to discover what the public really thought about lawsuits.
The study found that more than 95% of the participants would sue someone dependent on the situation. Out of that 95%, 57% of the participants would sue if they felt it was necessary and almost 30% would sue if they had been wronged and thought they had a good case.
What Could I Possibly Get Sued For?
- Dog Bite Lawsuits
Example: Your dog gets out of the yard and bites someone. The person who was bit decides to sue.
- Personal Injury Lawsuits
Example: You’re hosting your child’s birthday party at your house and one of the other kids falls off the swing and breaks a bone. The parents sue you.
- Slander or Defamation Lawsuits
Example: You get sued for slander because post you wrote on Facebook leaving a bad review.
- Slip and Fall Lawsuits
Example: Someone slips on your uneven sidewalk, hurts themselves, and sues you.
- Car Accident Lawsuits
Example: You, your spouse, or your children are responsible for a 4-car pile-up and your insurance would only cover a portion, so the other people involved in the accident decide to sue you personally on top of suing your insurance company.
What Does Umbrella Insurance Cover?
- Someone that is injured on your property
- Accident damages that exceed auto, homeowner’s or watercraft coverage
- Protects against personal lawsuits
- Property damage (at someone else’s property)
- Landlord liability
Now that you understand what an umbrella insurance policy is, why you would need it, and what it covers, call Henry Insurance Service for a quote today! For more information on how to better protect yourself and your family, reach out to a trusted Henry Insurance Service representative.
Citations:
Lawyers and Lawsuits in the Public Eye
