Your Risk of a Personal Liability Lawsuit Is High
We live in an increasingly litigious society – your existing umbrella policy may not be providing enough protection:
- Does your current umbrella policy fail to protect all your assets?
- Does your income make you an attractive target for a lawsuit?
- Do you live in a neighborhood where your address alone makes you more vulnerable to lawsuits?
- Do you have dependants (such as teen-age drivers) that expose you to liability?
- Do you often have guests on your property?
- Do you donate time to the board of a not-for-profit organization for which you may be exposed to liability?
If the answer to any of these questions is yes, you should consider buying additional personal umbrella insurance.
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You Need to Protect Future Earnings from Personal Liability Lawsuits
The amount you could lose in a lawsuit is not limited by your net worth. Your future earnings could be garnished to satisfy a judgment against you. Sufficient personal umbrella insurance can help protect your ability to send your children to college or to retire comfortably.
Your Assets Exceed Your Current Umbrella Coverage
Most insurers are unwilling to provide large limit umbrella policies because a few large losses could adversely affect their annual earnings. For that reason, only a small amount of umbrella coverage (often only $1 million or $2 million) is available to reduce this risk.
Due to Berkshire Hathaway’s unparalleled financial strength, we are able to take a long-term view of this risk and provide large umbrella limits that other insurers are unable to match.
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