You’ve insured your car and your home, but what if?
What if you fall asleep at the wheel when driving home and cause an accident that seriously injures several people?
What if you have been meaning to fix the deck in your backyard, but a guest walks over it and falls through?
In these cases, the injured parties may sue you for amounts above one million dollars. Your auto insurance will offer you some liability and will pay up to the amount of liability you posses. Likewise, your homeowner’s policy will pay out at the liability rate you have purchased. In these cases, a Personal Umbrella Liability (PUL) policy can help you survive a lawsuit without losing everything you own.
Personal umbrella insurance acts as protection once your other policies have been exhausted. In cases where personal umbrella insurance is not purchased, causing an accident can result in your surrender of all your material goods in order to assess their value. Most often the property assessed is your home, cars and boating goods. Other property like jewelry and assets may also be part of the pot a person in a lawsuit can claim. Additionally, a portion of your salary may need to go to any successful claimants for many years, if not for the rest of your life.
Even if a lawsuit does not result in a huge reward, court costs are frequently high and exceed amounts an auto or home insurance will allow. Personal umbrella insurance will also step in to allow for repayment of court costs without your needing to sell assets to meet these costs.
Contact us today for a Personal Umbrella Liability quote. We think you’ll be surprised at the affordability for the protection it provides!
Your Security is Our Responsibility!
Note: Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.
At Virginia Beach insurance company WBR Insurance we offer a full portfolio of policies, including auto insurance. We pride ourselves in establishing personal relationships with our customers to assist you in protecting what matters most. To get a free quote for your Virginia Beach auto insurance needs, give us a call at 757-340-0028 or visit our website www.WBRInsurance.com.