If insurance is for a rainy day, umbrella insurance is for a storm! A day when someone hits you with a lawsuit for hundreds of thousands, even millions, of dollars.
Think it can't happen to you? Do you know how lawsuit-crazy this country is? You can't pick up a newspaper these days without reading about somebody suing somebody else for . . . what? You read the article and say, "That's crazy. There's no way somebody should be able to sue for that."
Well, guess what? The courts are clogged with these "crazy" lawsuits, and sometimes the person bringing the lawsuit wins. Do you really need coverage for these crazy lawsuits? Maybe not.
But remember that a lot of lawsuits aren't crazy at all. Some get settled. Actually, most get settled. Often, the person being sued winds up paying something to the person who brought the lawsuit. And that doesn't even include the fees the defendant in the lawsuit has to pay to his or her attorney.
My liability coverage is enough to protect me, right?
Umbrella Insurance: massive coverage for pennies a day!
How does Umbrella Insurance work?
To learn more about Umbrella Insurance, visit our Learning Center.