Massachusetts Umbrella Insurance

We are a litigious society – there are more and more lawsuits filed every year. In record numbers, people are awarded larger judgments than ever before.

Are your insurance liability limits sufficient to protect your assets and future earnings in the event of a lawsuit? We highly recommend looking into a Personal Excess Liability (Umbrella) policy. This type of policy is an extra layer of liability coverage above and beyond your automobile, homeowners, motorcycle, or boat policy. Should you be liable for someone’s injuries or damages, and your primary policy’s limit runs out, an umbrella can offer additional protection, often a million dollars or more of protection.

Certain exposures, such as swimming pools, trampolines, or inexperienced drivers make a very compelling case to add an umbrella policy. This coverage can often be added for a very reasonable price.

While it seems ridiculous, here is an example of financial exposure -

A group of high school students were partying one night when they decided to jump the neighbors fence and use their swimming pool. One of the boys dove into the pool while impaired by alcohol and broke his neck. Although the owners of the pool were not present, their homeowners’ policy paid the limit of $250,000, and their umbrella paid a full $1 million settlement.

By purchasing an umbrella policy, the pool owners were able to avoid financial ruin. Anytime an injury occurs on your property, you could be held liable.

They Want More Because You Have More

In our society, three things work against you:

  • It cost nothing to initiate a lawsuit
  • Juries and judges are unpredictable
  • Defending yourself costs enormous sums of money

One other factor also comes into play. They want more because you have it.

A long time ago, you decided to arrive. You worked hard and got there. As you did, you accumulated possessions. Not an ostentatious amount, but enough to make you and your loved ones comfortable.

You are proud of these accomplishments. In fact, you have protected them with the best insurance you could.

Now you need extra protection, an umbrella insurance policy.

What are your limits on your auto and home liability policies? $300,000? $500,000?

It’s not enough.

You get into an auto accident; someone falls into your pool; whatever the fluke occurrence—you can be sued. What if you are sued and the award goes to the plaintiff? Okay, you say, the insurance will cover it. But what if the amount is over the policy limits? (That happens, especially if you have nice things.)

How will you pay the judgment? How will you even defend yourself in such a lawsuit? Can you actually lose all you have strived for?

You bet you can.

You need protection that will rev up after the other policy limits are exhausted. You need Massachusetts umbrella insurance protection.

Contact us 617-389-9400, a seasoned insurance professional at Philbin Insurance Group, in Massachusetts. Discover how a small cost provides you with gigantic protection.

Philbin Insurance Group

At Philbin Insurance Group we have provided umbrella protection for people in Massachusetts since 1988. We know how to protect your assets. Now you will too!

Complete the Protection Savings Form today for a free, no obligation umbrella protection quote. Don’t spend another sleepless night riddled with anxiety about losing all you have. Take out an umbrella!