Homeowners, auto, and watercraft policies all provide a limited liability benefit. But, if you are found at fault in an accident, is there enough liability insurance on your current plans to protect you if you're sued?

That Rainy Day

Since no one can predict how much an injured party may be awarded in a lawsuit, umbrella insurance is not just for the wealthy anymore. It's a necessary protection for every policyholder.

Umbrella insurance provides liability protection above and beyond the limits on personal homeowners, auto, and watercraft insurance policies. Depending on the policy, umbrella coverage can add an additional 1 to 5 million in liability protection when the liability coverage on other policies has been exhausted.

Those Storm Clouds

Almost every state has laws holding homeowners, watercraft owners, and drivers accountable for bodily injury and property damage resulting from accidents. This leaves policy holders vulnerable to personal injury lawsuits.

Liability insurance typically pays for the expenses of the injured: medical bills, rehabilitative therapy, and lost wages. It can also cover a legal defense representative for the accused. But, if the policy holder is found at fault, these expenses are usually too large to be covered by standard liability coverage included in home and vehicle policies, and this leaves the policy holder's personal assets at risk.

Here Comes the Sun

A personal liability umbrella insurance policy can provide added liability protection without a large added cost. Additional liability insurance is often inexpensive, especially compared to the added coverage one gains. Furthermore, liability insurance covers one's non-business activities anywhere in the world.

Having the added protection of a liability umbrella policy is coverage no one should go without. Do you have what you need?