☂️ One lawsuit has the potential to undo what it took a lifetime to build.
Most people assume their home and auto insurance policies cover everything. For everyday situations, they often do. The problem is the situation that you never saw coming. Think about where liability risk actually shows up.
🔹 A serious car accident where you are found at fault and multiple people are injured
🔹 A guest getting hurt on your property
🔹 A defamation claim from something posted online
🔹 A teenage driver in your household
🔹 An incident involving a rental property you own
🔹 A dog bite that leads to a settlement
Standard home and auto policies typically cap liability at $300,000 to $500,000. For someone who has spent decades building wealth, that coverage limit can leave a gap. An umbrella policy extends that coverage to $1 million or more. Most people who add an umbrella policy say the same thing afterward: they wish they had done it sooner.