Look At What Happened To This Uninsured Cyclist!

Liability and Umbrella Insurance is Worth the Look

We live in the age of the lawsuit and liability, that's a clear fact. Every time you turn around, there's a news story about someone filing a lawsuit over something that, twenty or thirty years ago, no one would ever dream of trying to take legal action over.

And as a result of that increasingly litigious society, there is insurance coverage for just about everything. Apparently, there are an increasing number of things that we need to be protected from.

In some cases, the coverage just makes sense: auto insurance, home insurance, health insurance, etc. Other times, maybe not so much.

But there's one form of insurance that may be worth taking a closer look at: personal liability insurance, also sometimes called umbrella insurance or even just personal insurance.

What Is Personal Insurance?
Not to be confused with the usual liability coverage that you can get through your auto or home insurance, personal liability insurance not only offers an increased amount of monetary coverage on certain claims that are covered by those auto or homeowner policies, but also offers protection from certain incidents that the other insurance policies don't cover.

For instance, an umbrella policy covers situations like a neighbor's child getting hurt while playing in your yard, or a party guest tripping and falling on your porch. It also covers property damage such as damage to vehicles in an accident where you're at fault, or if your dog ruins your neighbor's swimming pool.

Finally, it also covers you in the event of you getting sued for things like libel, slander, and the ever popular mental anguish.

So as you can see, umbrella insurance can not only supplement your existing policies' coverage, it can extend coverage into a whole other range of legal issues where having some protection could mean the difference between bankruptcy and solvency.

An Example From The News Here's an actual incident that drives home the need for personal insurance. An Edmonton, Canada resident riding a bicycle hit an SUV and damaged it. Six months later, he received a bill for over $6,000 from the SUV's insurance company. Along with the bill came the threat to have the cyclist's driver's license suspended if he didn't pay up.

The insane thing about that story is that the man wasn't even driving a car; he was riding his bicycle, and hit the SUV. In fact, the bicyclist sustained injuries that kept out of action for months. Talk about adding insult to injury!

This is precisely the kind of misfortune that a personal liability policy is meant to cover. At first glance it may seem unfair to the bicyclist, but just because he was on the road in a smaller, more fragile vehicle and sustained injuries as well doesn't mitigate the fact that he was in the wrong, and liable for that repair bill.

A Small Price To Pay

The great thing about umbrella insurance is that it doesn't cost much. Many insurance carriers that provide your automobile or homeowners' insurance offer personal liability insurance as well. If your carrier doesn't provide personal liability coverage, there are plenty of companies out there that can underwrite such a policy.

Just because something seldom occurs doesn't mean it will never happen. Spending just a few dollars every year can go a long way towards establishing protection and peace of mind in this litigation-minded society we live in. You can check here to find more information on personal liability coverage.