What might happen if you're involved in an auto accident that is your fault, which injures the other driver, and the cost of those injuries exceeds your policy liability limits? What if the accident totals that person's vehicle, which costs more to replace than your liability limit would cover? Is it likely that you could end up on the wrong end of a lawsuit with your savings, retirement account and home equity up for grabs? Does just thinking about the possibility stress you out some? Perhaps a Personal Umbrella Policy (PUP) would provide the stress relief you can't afford to live without.
A PUP works with a customer's existing liability coverage by providing additional protection. Additional benefits include:
- Customers will not have to face court alone. If they are sued over an incident covered under their personal umbrella policy, we will retain and pay for an attorney to represent them in court.
- Their coverage goes everywhere. So, they are covered no matter where they are, including outside the U.S. like Cancun, Cozumel or other spring break hot spots.
- Helps with gaps in their coverage. Homeowners and auto policies do not cover certain types of incidents, like those alleging slander. But a personal umbrella policy helps provide protection for this kind of incident as well as others.
- Reimbursement for lost wages. Customers will be reimbursed for the wages lost for absence from work for a court appearance, up to the limits specified for this benefit in the policy.
We offer a range of personal umbrella coverage amounts in $1 million increments, and they are surprisingly inexpensive. Customers may qualify for up to a maximum coverage amount of $5 million. While you hope to never need a Personal Umbrella Policy, it's better to plan for the worst just in case.
