No one likes to think about the possibility of a catastrophic incident that subjects you to liability beyond the limits of what your standard personal insurance, such as your home or auto policies, will cover. But it can happen to anyone.
Individuals with high net worth, or who own some especially expensive assets, can be especially vulnerable to high liability claims. But people of more moderate means can be at risk as well. Suppose, for example, that you are at fault in an automobile accident that injures riders in a multi-passenger vehicle with every seat filled. Or what if a high-income individual is injured on your property, and you are liable for his or her lost wages? Personal umbrella insurance is designed to cover extreme scenarios like these.
Since it covers less-probable situations, umbrella coverage can be surprisingly affordable. A Collens-Wagner insurance specialist can assess your need for umbrella insurance, help you identify an appropriate level of coverage, and match you with the right policy at a good value.