What exactly is a multi million dollar umbrella policy?  And, how exactly does it affect you and your family?

You may wonder what a multi million dollar umbrella policy had to do with teenagers starting school this fall.  The school year brings numerous school related events like sports games, dances,  and other social gatherings that your son or daughter may be attending and driving the family car with school friends in the vehicle.

We hear about so many serious accidents where teens are involved. If your child were injured badly in a friend’s car, you would surely look to be compensated.  I have seen several serious accidents in my career as an agent.  It is not uncommon for parents to hire and attorney and demand millions of dollars after their child is injured….or even worse – killed in a serious auto accident.

The most memorable auto accident I dealt with involved several teenagers heading to the county fair.  One of the teenagers didn’t want to pay to get in and was hiding on the back of the vehicle – with no seat belt on.  The teenage driver took a turn too quickly when entering the fairgrounds to avoid oncoming traffic on the interstate.  The vehicle rolled.  The teenagers who were wearing seatbelts had minor injuries.  The teenager who was not wearing a seatbelt sustained serious injuries and was hospitalized for quite some time.  She recovered, and ended up with a large settlement from the driver’s auto insurance.

Would you have money on hand to protect yourself if this happened to you?  The auto policy limit on the above accident was completely exhausted.  In this instance, the client carried a personal umbrella liability policy to cover anything the auto policy did not.  In the absence of such a policy, the courts could sieze personal assets (bank accounts, home, cars, etc.) or even garnish your wages to pay for the injuries.

The personal umbrella policy is a safety net over your standard auto and home liability coverages. This protects you against settlements and wage garnishments with both dollars and insurance company lawyers to defend you.  Often the policy cost can be as low as a dollar a day.

Check into it today!