Estate Planning
Protect your net worth with Excess Liability Insurance.Many people believe that if they are involved in a catastrophic accident at home or on the road, their automobile and homeowners insurance will provide them with adequate liability protection. However, carefully reading these policies will reveal that each has liability limits that quickly fall far short of what’s needed to protect themselves, and personal assets may have to be used or liquidated to satisfy the courts.
Lawsuits are one of the biggest threats to your wealth; the effects can be financially devastating. For several hundred dollars per year, an umbrella policy can give the financial protection (and peace of mind) that you need to preserve the assets you’ve worked so hard to accumulate and enjoy.
Lawsuits are one of the biggest threats to your wealth; the effects can be financially devastating. For several hundred dollars per year, an umbrella policy can give the financial protection (and peace of mind) that you need to preserve the assets you’ve worked so hard to accumulate and enjoy.
What is Excess Liability Insurance?
Protection beyond your home, vehicles, and watercraft policies.Also known as “excess personal liability insurance,” umbrella insurance sits atop your homeowners, automobile, motorcycle, and watercraft liability coverage and protects you by picking up where your other coverages leave off.
For example, if someone slips and falls on your property, the insurer of your home will pay for damages up to the liability limits on your homeowners’ policy. If the damages exceed those liability limits, you can be sued for the difference. In the case of a lawsuit, Your umbrella policy will pay for your defense and for a settlement or judgment if it’s determined that you were at fault.
For example, if someone slips and falls on your property, the insurer of your home will pay for damages up to the liability limits on your homeowners’ policy. If the damages exceed those liability limits, you can be sued for the difference. In the case of a lawsuit, Your umbrella policy will pay for your defense and for a settlement or judgment if it’s determined that you were at fault.
How much coverage do you need?
High net worth families have more to lose.How much umbrella coverage do you need? The best answer to this is to add up your assets. If everything you own, including savings and retirement accounts, adds up to worth more than $1 million, then that would be the minimum umbrella policy you need.
But keep in mind that judgments can take into account your future earnings. We generally recommend getting enough coverage to protect your net worth (minus 401Ks that are exempt from judgments) plus your estimated income for the next ten years.
For the security it provides, umbrella insurance is worth the price. It’s generally sold in increments of $1 million of coverage for roughly $200 to $400 per policy year, with each additional one million of coverage costing about $150. Of course, the rates will vary depending on where you live and how many cars, homes, and boats you’re insuring.
But keep in mind that judgments can take into account your future earnings. We generally recommend getting enough coverage to protect your net worth (minus 401Ks that are exempt from judgments) plus your estimated income for the next ten years.
For the security it provides, umbrella insurance is worth the price. It’s generally sold in increments of $1 million of coverage for roughly $200 to $400 per policy year, with each additional one million of coverage costing about $150. Of course, the rates will vary depending on where you live and how many cars, homes, and boats you’re insuring.
How We're Different
A Special Class of Coverage
We offer coverage not available through mass-market insurance
HIGH LIMIT AVAILABILITY
Offers up to $100 million in personal umbrella and excess liability coverage.
WORLDWIDE COVERAGE
Multinational claim units in 54 countries for easy claims settlement and currency transfer.
HOUSEHOLD EMPLOYEES
Covers acts of your household staff during the course of their employment.
REPUTATION PROTECTION
Coverage to repair your reputation for a covered loss.
CHOICE OF ATTORNEY
Provides an allowance that pays for legal counsel from an attorney that you choose.Great coverage starts with a plan.
How to get Started
Get started by filling out our easy-to-use and follow online application — it's secure and only takes a few minutes to complete.
Our specialized coverage advisors will handle the rest! They will start by shopping the market for you based on your unique needs and will make recommendations.
We deliver you a custom plan with clear recommendations. You get to choose what options work best for you!
Custom Built Coverage
A plan tailored
to your needs.
After taking time to understand your coverage needs, a personal risk manager will prepare a custom plan designed to protect what's important to you. We take a holistic approach to risk management that looks at your entire portfolio of risks to ensure you are properly covered. No detail is overlooked.
