Personal Umbrella

Most people purchase the "personal umbrella policy" for a Million Dollars or more in case they are sued. Absolutely a wise decision! However, those same people often do not include the option for the Un-Insured or Under-Insured driver because of the added cost.

This option is just as important. Consider this... My cousin was in an automobile accident. It was not his fault, but his foot was crushed in the accident. The at fault driver had insurance, but at minimum levels. He paid to have the car repaired, but his level of liability insurance was no where adequate to cover my cousin's physical injury. Likewise, my cousin now had to undergo long-term rehabilitation and was unable to work, which meant loss of wages. It is his own Un-Isured / Under-Insured coverage replacing those lost wages.

Now consider what would happen if he had become permanently disabled and was never able to work again. Even the maximum coverage may not have been enough to see him through the medical expenses and lost wages. However, if he had a person umbrella for a Million or more, that money would have been available for him and his family.

Many will say that you are just giving money to the insurance companies and will never make a claim against that money. I would love to have their crystal ball, because the numbers just don't match with that prediction.

State statistic still show that one in four drivers are still driving without insurance or are seriously "Under-Insured." Every forth car you pass while driving to work, (we won't even talk about how they may be driving or what else the may be doing.) could potentially take you out of the picture and leave nothing for your family. You might even be included in that 25%. It is simply just not worth the risk.

Make sure that you are adequately insured and consider the "Personal Umbrella." Umbrellas are for more than just rainy days.