Five Claims That Will Make You Want an Umbrella Policy
We all know an umbrella protects you from getting wet on a rainy day. However, the type of umbrella we are referring to is a policy that provides excess liability insurance in case of an unexpected auto, property, or home accident.
You might be thinking that this sort of policy is unnecessary, but it can help you cover the additional costs of liability incidents that your base home or auto insurance does not pay for. Check out these five claims that were settled with the additional coverage of a personal umbrella policy courtesy of our partner, Citizen’s:
A babysitter left a 5-month-old infant unattended in a walker. The infant toppled the walker, struck her head on the floor and suffered brain damage. The parents of the infant sued the teenage babysitter and her parents. The court awarded the infant’s parents $11,000,000.
A 28-year old engineer dove into a friend’s above ground swimming pool struck his head on the bottom and, as a result became a quadriplegic. He sued both the homeowner and the pool manufacturer. The court found the homeowner to be 60 percent responsible and the pool manufacturer to be 40 percent responsible, and awarded $10,000,000.
The insured’s tenant claims she became ill from carbon monoxide poisoning resulting from a faulty furnace. The tenant claimed permanent brain damage and demanded $750,000.
A hillside on the insured’s property was covered with concrete to prevent erosion. The concrete had been installed before the insured purchased the property. Approximately 5 feet of the concrete fell to the neighboring property knocking the claimant’s home from its foundation. The resulting claim was settled for $970,000.
The insured hosted a beach party for their daughter One of the attendees found what was believed to be an empty and discarded propane tank. The tank was thrown into a beach bonfire and subsequently exploded resulting in severe injuries to several guests. A $20,000,000 claim was filed alleging the insured failed to properly supervise the party.
At Allied Insurance Managers, we want you to be prepared for the unexpected. We know these claims will encourage you to make sure you are covered for any liability incident that may come your way.Tags: Umbrella Policy, Allied Insurance Managers, Umbrella Claims