Benefits of Personal Excess Liability

Will your personal liability insurance cover you?

You don’t have to be a millionaire to be sued like one. That’s why excess liability coverage—often called umbrella—should be an important part of your insurance portfolio. A personal excess policy provides you with liability coverage for damages for which you or members of your household may be legally responsible. It helps protect you against the cost of damages which might appear to be minor—such as a fender bender—but actually end up being costly over time. That minor accident could turn into a lawsuit for the ongoing back or neck problems of the other driver.

Personal Injury. This coverage applies in the event you are liable for someone being injured on your property. It also applies in other situations such as lawsuits involving accusations of libel, slander, or negligent infliction of bodily injury.

Not-for-profit directors and officers coverage.
This coverage applies in the event your are personally liable for personal injury or property damage resulting from your volunteer participation on the board of a not-for-profit or organization.

Uninsured / underinsured motorist protection.
Since many U.S. drivers are uninsured or underinsured, it’s important to help protect yourself and your covered passengers in the event of an accident. This optional coverage helps provide protection in the United States and Canada for bodily injury and property damages any covered person is legally entitled to receive from the owner or operator of an uninsured or underinsured motorized vehicle.

Worldwide automobile rental. Excess liability coverage affords you with automobile rental coverage, worldwide, for up to 60 days. So you can rent a car on vacation—anywhere in the world—and have coverage for bodily injury and property damage. *Physical damage to the actual rental vehicle is not covered unless the damage is caused by fire, smoke or explosion.

Defense costs. If the circumstances of a lawsuit are covered, you are also covered for unlimited legal defense.

How much excess liability coverage do you need? The amount of personal excess liability coverage you choose depends upon your individual requirements. How do you determine the amount? First, review your assets: your home, other personal belongings and investments. Ask yourself how much you have to lose in the event of a lawsuit.

 If you have any questions, please call Eileen Lamm at (908) 790-6928 or use our online contact form.