Is Umbrella Insurance Worth It? Although once upon a time, having umbrella (excess liability) coverage was for only wealthy people, these days, anyone and everyone can get sued for nearly anything – and it’s important to be prepared. Umbrella insurance acts as a cushion or safety net for you in the event that your established policies can’t come through for you. If you don’t have enough extra coverage and you get sued for enough, you could lose your home, autos, and many other assets due to the costs of defending yourself.

Do you own a waterfront property? Do you have visitors often? Maybe you have a pool or young drivers in your family. Do you travel much? Own an aircraft or boat? Do you live in a wealthy neighborhood or make a lot of money? Any of these are reason enough to protect yourself with umbrella insurance.

Saving Families Thousands: The Gregovichs threw their daughter a sweet sixteen party and invited around forty of her friends. During the party, two boys got into a fistfight and ended up falling down a staircase in the Gregovichs’ house. The boys’ parents filed a claim against the Gregovichs, and because the staircase was added and not included into their homeowners policy, their umbrella policy kicked in and saved them thousands of dollars.

This is just one example of how umbrella insurance can save the day. It can also cover many other situations, including eviction, wrongful entry, false arrest, malicious prosecution, invasion of privacy, defamation, organization liability; and of course, it adds extra coverage to your basic homeowners and auto policies.

Want to know more about umbrella insurance? Contact us today! We’re Bright Insurance, an independent agency in Milford, Massachusetts.