Offering Umbrella Insurance in Tampa and All of Florida
Umbrella insurance is extra insurance that will provide protection beyond the existing limits of your policy if you are held liable for a large claim or judgement. The umbrella will go over things that are “scheduled” and typically homes, condos, autos, and boats are scheduled. Umbrellas are very affordable and adds an extra layer of protection so you can protect any assets you may have to loose and avoid large out of pocket expenses. Some common things that an umbrella may cover are a serious auto accident where you are at fault, harm caused to a guest while they are visiting you, a neighbor child playing on your property. Below are some claim examples from a top umbrella carrier in the industry, RLI, and one of our preferred umbrella carriers that we write with. https://www.rlicorp.com/
- Scenario 1.) AUTOMOTIVE LIABILITY Incident: The insured was driving on a two-lane road when he struck a pedestrian walking home from work. The pedestrian suffered serious head trauma. The insured was not speeding, there was no alcohol involved and cell phone records show that no phone was in use at the time of this accident. Outcome: RLI paid the $2,000,000 Personal Umbrella policy limit after the insured’s underlying auto limit of $500,000 was exhausted.
- Scenario 2.) IMPAIRED DRIVER Incident: The insured was driving a vehicle when it was struck in the rear at high speed by an uninsured driver who was intoxicated. The insured was airlifted from the accident scene to a hospital. He sustained spinal injuries and other complications as a result of the accident. Outcome: Because the RLI Personal Umbrella Policy included coverage for Excess Uninsured/Underinsured Motorists with a policy limit of $1,000,000, the insured was paid the full $1,000,000 for an accident that was not his fault.
- Scenario 3.) BOAT ACCIDENT Incident: The insured was operating a ski boat on a lake with two passengers. As the insured turned the boat, a strong gust of wind blew an inner tube out of the boat. A rope connected to the inner tube caught one of the passengers around the leg, launching him out of the boat and onto the dock. The passenger sustained substantial injuries to his knee and hip and was totally disabled for six weeks, leading to a business income loss. Outcome: The primary insurance company tendered its full policy limit, which was $500,000 short of the total claim amount. The RLI Personal Umbrella Policy covered the remaining amount. Without the personal umbrella policy, the insured would have had to pay the $500,000 out of pocket.