Your home and auto provide basic liability coverage, but the coverage may be limited - from the protection they provide and the amount they will cover. Excess liability or umbrella coverage is the easiest way to insure you have the proper amount of personal liability.
Umbrella insurance is add-on coverage that extends your limits of liability over and above your underlying policies to protect your assets in the event of a loss.
How umbrella insurance works: Umbrella insurance coverage begins when the limits of your underlying policies are exhausted due to a large loss. Whether it’s your home, auto, or boat, liability on these policies is limited, and in a large loss situation, you could find yourself being responsible for the difference without umbrella coverage.
Defense Costs: Legal defense costs for claims of personal injury and property damage are covered—even if the suit is groundless, false or fraudulent—and do not reduce the amount available to pay damages. This includes claims of bodily injury, defamation, libel, slander, wrongful entry, eviction and emotional distress.
Choice of Counsel: You will have the ability to choose representation from a panel of trusted defense attorneys.
Worldwide Protection: You are covered whether you are at home, on the road or abroad, including rented vehicles.
Drop-Down Coverage: Occasionally, a loss may be covered by your Personal Excess Liability policy but not by your primary insurance policy. If this occurs, you won’t be out-of-pocket for the amount that would normally be paid by your primary insurance; your Personal Excess Liability policy will drop down and cover the loss.
Uninsured Motorists Coverage: You can choose to purchase up to $10 million of coverage to respond in the event that you are involved in an automobile accident with an at-fault driver who is not adequately insured. In some states, drivers are only required to carry $10,000 in liability coverage, which could easily fall short of the amount you may be entitled to for property damage, medical expenses and other accident-related costs they caused.
Uninsured Personal Liability Coverage: If you or a family member is seriously injured as a result of someone else’s negligence and that person is not sufficiently insured, you could be left with costly out-of-pocket expenses. You may also not receive compensation for things like lost wages, pain and suffering. This optional coverage offers protection against non-automobile related incidents involving uninsured or underinsured individuals.
Not-for-Profit Directors & Officers Liability Coverage: Your policy protects your financial well-being from claims of personal injury or property damage while you act in your capacity as a director or officer of a qualifying not-for-profit organization. You can choose to add optional Directors & Officers Liability Coverage for even greater protection, as board members can be held liable for the actions or inactions of the organizations they serve, including accusations such as wrongful termination and breach of fiduciary duties. What is known as a “drop-down” feature protects you in the event that the organization’s coverage fails to respond or doesn’t cover you. There is no limit to the number of qualifying boards you can sit on.
Employment Practice LiabilityCoverage: If you employ domestic staff, such as a caretaker, you are covered for claims of bodily injury by that staff. You can also purchase additional coverage for allegations of wrongful employment acts, such as wrongful termination, sexual harassment and discrimination. This coverage may also pay for defense costs, damages awarded, and services of a crisis management firm to protect your reputation.
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