There are exclusions, but some real world examples may be:
• You have a package delivered by Fedex and the delivery person falls and injures themselves.
• You have a pool and go on vacation. Even though, you have an approved fence, and have taken all the suggested precautions, one of your neighbors comes and swims but injures themselves.
• You take your dog on a walk and it attacks another dog. The dog and the other person are both injured.
If you have a homeowners policy with high limits and an umbrella policy, chances are you will not have to pay anything out of pocket for the settlement OR defense costs.
If you have questions about what other scenarios might be covered, call 940-382-4700 to do a thorough review of you policies.
Who Has the Highest Exposure to Liability Claims?
A short list includes:
• Anyone with ANY assets
• Households with teens and young children
• Perform volunteer work
• High incomes
• High profile positions or community involvement
• Own a second home
• Have a swimming pool, trampoline, or dog
• Own a boat/jet ski
This list is more likely to have a civil suit brought against them because it increases their exposure or may make them appear to be wealthy. So how do you get an umbrella policy?
We first suggest that you do a thorough review of your account and what activities you do that present the higher risk. Remember to include things on your homeowners, auto, watercraft, recreational vehicle, rental property, and business activities. All policies are different, and the better your agent understands your exposures the better they can recommend the policy that fits your needs best.