Peace of mind. That’s what you’re buying when you purchase a personal umbrella or excess liability policy. Odds are, you will never need this policy; in fact, we can count on one hand the number of actual personal umbrella claims we have seen in our agency since its inception.
But the question is this: “What if?” What if you slide on ice and crash into other cars on the interstate? What if a house guest drowns in your pool or falls into your outdoor fire pit? What if your son or daughter becomes distracted by his/her passengers and have an accident, causing severe injury to the occupants?
You don’t buy an umbrella because you believe any of these will happen; you buy it because of even the remote possibility that they could. The consequences of not having enough liability coverage can be financially devastating, and for a few hundred dollars, it’s not worth it to take the chance.
There is no standardized umbrella form; each company writes its own policy with whatever nuances they choose. We have taken the time to read our companies’ policy contracts, and will be glad to read any other company’s contract for you.