We are taught from a young age to protect ourselves, whether it is looking both ways before crossing the road, wearing warm clothes when the weather gets colder, or not talking to strangers.  But what about when we become adults?  How do we protect ourselves from situations that threaten our livelihoods? A personal umbrella policy is one way to establish a protection plan, but unfortunately it is often overlooked.

Picture this: You are driving home from work and receive a text from your boss. Instead of waiting until the car is stopped you quickly text back a response. During the 5 seconds it takes to answer your boss’s question you fail to see the group of children crossing at the intersection ahead, and you are not able to stop in time. The accident results in one child’s death and critical injuries to the other children, one of which would require lifelong care.

If your current auto policy’s limits are exhausted due to this accident and no umbrella policy is in place, it is your personal assets that are on the line to pay any remaining costs legally assessed to you. Even if you do not possess significant assets, your personal liability for an at-fault accident can extend to future earnings, which could be garnished until all claims are settled.

So how does a personal umbrella policy work? If we consider the above accident scenario and you are being sued for $750,000 but your auto insurance limits only cover $250,000, a personal umbrella policy could provide the necessary coverage to pay the difference for any damage resulting from your at-fault claim.

In today’s litigious society, a personal umbrella policy is an essential way to protect your assets, and ultimately your livelihood.  Contact BrookStone Insurance Group to learn about insurance options available to provide the necessary protection to you and your loved ones.

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