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Picture this‚you‚’re driving back from an out-of-town wedding late at night. You purposely didn‚’t have any alcohol because you knew you had the long drive back home. As the miles slip by, so does your energy, but you only have 50 more miles to go. A few hours later, you wake up in the hospital and learn that you fell asleep and ran into another driver. All things considered, you are in pretty good condition, but there were two passengers in the other car with serious injuries.

Now you start asking yourself questions‚ will your auto liability limit of $100,000 be enough? A claim involving two seriously injured passengers can total far more than $100,000. Your insurance company offers to settle with the injured passengers for the entire limit of your policy in exchange for releasing you from any further liability.

Now the bad news… the injured parties have spoken with attorneys and think the claim amount, considering the seriousness of their injuries, should be closer to $750,000. They file suit even though they know your liability limits are only $100,000. They also know you own a house, two cars, a boat and a vacation cabin ‚Äì all soon to be theirs.

Sound bleak? Do you remember talking to someone at our office about umbrella liability? The umbrella policy blankets over your auto and homeowner policy and gives you worldwide coverage for liability exposures. The cost for this important coverage is usually very reasonable, often less than $200 a year for a $1 million policy. If the unforeseeable claim does occur, you will still be able to sleep well at night knowing that your personal assets are protected.

Unfortunately, we‚’ve seen firsthand how the absence of this extra layer of protection can completely destroy someone‚’s financial future. However, we‚’ve also seen clients rest easy knowing that during one of the worst times in their life, they have an umbrella policy to protect their assets. We love being able to tell clients those two little words that lift the weight of the world off their shoulders‚‚”you‚’re covered.‚” So if you don‚’t currently have an umbrella policy, please give it serious consideration. Talk to your trusted insurance advisor and don‚’t risk another day without this vitally important policy.