5700 N. Lincoln Ave., #205, Chicago, IL 60659
A Personal Umbrella = Peace of Mind. As a Roxy Insurance customer, you can add an additional layer of personal liability protection with Umbrella insurance. Umbrella insurance offers an extra layer of liability coverage, which can help if you ever find yourself responsible for unexpected damages that exceed the limits of your auto, home or boat policies.
You Have More to Protect Than You Think
You may be assuming that if you don't have $1 million to lose, you don't need an umbrella policy. Unfortunately,
if you are sued by someone who falls down the stairs at your home or whom you injure in a car accident, you can be sued for more than just what you have in the bank.
Your retirement funds, investments, savings and even your future earnings are at risk if a judge allows someone to garnish your wages to pay off a settlement. In some states, the equity in your home can be
part of the judgment and you would be forced to sell your home to pay someone who sues you.
Although 85 percent of umbrella insurance claims are related to car accidents, the policies offer protection against accidents that occur at your home, too -- for example, in case someone falls down your stairs and sues you, or your balcony collapses during a party. Many people opt for an umbrella policy because they have a pool or a trampoline on their property and fear the consequences of a child getting injured.
Then there's coverage for incidents you may not have even considered, such as accidents while you're driving in another country, or while you're on vacation and have rented a boat or Jet Ski.
The average cost for a $1 million policy is $250 annually – which you might find a relatively low price for the peace of
mind and security it offers.
(Portions from article by Michele Lerner, Jul 5th 2013 – Daily Finance)
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