rely on their homeowners policy or auto insurance for the bulk of
liability protection, but for even greater peace of mind some
consumers will opt for a separate liability policy.
society becomes more litigious, an extra layer of protection against
lawsuits is sometimes referred to as "excess liability"
which covers your personal assets in the event that you are held
liable for an accident or property damage.
likelihood of being get sued, combined with the trend for higher
jury awards has led many consumers to look into purchasing the
extra protection a liability policy provides.
on the amount of a potential lawsuit, adequate liability insurance
will prevent you from having to sell off your personal assets
to pay the extra amounts in damages, or to fend off law firms
who may come after your savings or even your future earnings.
The extra protection also covers instances that your regular
liability coverage does not - including libel, slander, claims
by one member of the household against another, or even a
disease or illness you may pass on to someone, among others.
Of course, the amount of
liability protection depends on financial circumstances, but
estimated costs are relatively low since most insurers are
betting you'll never need to file a claim. So $1 million personal
umbrella liability policy will range from $150 to $300 per
can qualify for additional coverage, most insurers will require
that you have about $250,000 of liability coverage on your auto
insurance policy and $300,000 of liability insurance on your homeowners
policy before they issue you an excess liability policy
On the Web,
find out more on the topic with expert tips and advice, FAQs,
story articles and fact sheets about protecting your assets to
the utmost with personal umbrella liability coverage ...
Liability Insurance - Informational and easy-to-read
fact sheet on the subject covering the benefits of liability
insurance and what it insures against, with details on what's
not covered under basic homeowners and auto policies.