Umbrella Policy

Life happens and people get sued. It’s that simple. What do you stand to lose?

Your liability exposures can ultimately expose your assets to a law suit. Without a crystal ball you don’t know what tomorrow will bring, but an umbrella policy from FIFS can give you the peace of mind that your assets will be protected no matter what’s around the next bend.

If any of these describe you, a personal umbrella policy should be considered:

Own a home

Have children living in your home

In a high profile or target occupation

Serve on a Board of Directors

A business owner

Have a high net worth

Own a seasonal or rental property

Retired or nearing retirement

Ride recreational vehicles

Operate a boat

A Real Life Example

A policyholder was driving across an intersection and became distracted by oncoming headlights, failing to see a pedestrian in the crosswalk. There was a collision, and the pedestrian was hospitalized, suffering long-term injuries. The costs associated with this claim exceeded $1.2 million.

The driver had auto coverage with bodily injury limits of $250,000/$500,000. This alone would not have been nearly enough to cover it.

Fortunately for the policyholder, they also had a $1 million umbrella policy. Between this coverage and the $250,000 limit on the auto policy, the claim was paid in full and the policyholder’s assets and future earnings remained protected.*

An incident like this can happen to anyone, at any time, no matter how careful or prepared they are.

You may not not realize how much you have at risk – wages that can be garnished, savings, investments, even your home. For a better understanding of what is at stake, use this umbrella calculator to understand why an umbrella policy is essential to protect the life you love.

Umbrella Calculator

*The example in this material are provided as hypothetical and for illustration purposes only. They are not provided as possible outcome or result of any claims. Coverage of any claim is determined by the facts presented, the coverage terms, conditions, exclusions and limitations of the issued policy. Please refer to the issued policy for the coverage provided.

Umbrella Policy FAQs

What is covered by an umbrella policy?

An umbrella policy is liability insurance. If there is an accident, people are injured, and the damages are more than the coverage on your homeowners or personal auto policy; the umbrella provides an additional layer of coverage.

Does the umbrella only apply to personal auto and homeowners accidents?

What is included depends on which policies you choose. If you have a personal auto and homeowners policies, they are required to be included with the umbrella. If you have other policies (i.e. motorcycle, travel trailer, snowmobile, etc.) you decide whether or not to include them on the umbrella policy.