Get added protection to safeguard your success
Maybe you are just starting to hit some of your personal financial milestones. Or, perhaps you’ve already reached many of your long-term goals, such as owning a distinctive home, a vacation property, and your dream boat. At Fred C. Church, we know that the many assets you have accumulated likely represent several wise career and investment decisions you have made along the way. But there is one more critical move that we recommend you make sooner rather than later, which is adding Umbrella Insurance to your overall wealth management plan. This type of coverage should help protect what you have today, and may have in the future, if you are ever the target of a lawsuit.
Average monthly cost of an umbrella policy with $1M of liability coverage
Wondering whether umbrella insurance is something you need?
If you frequently entertain guests in your home, on your property, or even for extended stays at your beach or ski getaway, you’re not only being very generous but also increasing the likelihood that you could be sued. For example, swimming pools are wonderful amenities but also come with many risks. From someone falling and breaking a bone on a slippery deck to a guest getting a severe spinal injury when a dive goes terribly wrong, to a child drowning as a result of lack of supervision, there are many unthinkable hazards that you could potentially face. At Fred C. Church, we are committed to working with you to identify, assess, and address your personal liability risks. Having an umbrella policy is one way to ensure an extra layer of protection for not only the income, assets, and investments you have today, but also for those you may secure in the future.
Talk to an insurance professional about your personal liability risk.
Talk To An Insurance Professional About Your Personal Liability Risk.
Here’s how umbrella insurance works.
Before you buy, Fred C. Church wants you to understand the power of this policy.
Many of the insurance solutions you have already – for home, car, boat, etc. – do include what, at first glance, seems to be a fair amount of liability coverage. For example, a risk management resource, like Fred C. Church, generally advocates for homeowners to have at least $500,000 in personal liability built into their home insurance policy. That should be enough to cover you if you’re sued for an injury that happens at your house, right? In reality, defense attorneys’ fees alone could be several hundred thousand dollars. In addition, legal fees won’t be your only costs if you are sued; you will likely have expenses related to medical treatment for claimants and possibly judgments against you or settlements that you will have to pay. Perhaps you will even want to hire a public relations firm if you’ve been sued and have a high profile in the community.
Because the costs of a lawsuit can quickly max out your basic personal liability coverage limits, it’s essential to have an umbrella policy in place to supplement your protection. However, which umbrella policy is right for you and what amount of coverage to choose will depend on a variety of factors. Decisions like these are easier to make when you have the professional team at Fred C. Church assisting you. We will help you understand your umbrella insurance options and assist you in selecting the proper policy based on where you live, your profession and current income stream, your aversion to risk, your physical and financial assets, and more.
Talk to Fred C. Church about umbrella insurance if you:
Own or rent a boat
Coach youth sports
Have a dog
- Have a swimming pool, trampoline, or hot tub
Employ household staff
Have a large amount of wealth
Have substantial nonretirement investments
Rent a property
Live in a distinctive home
Own multiple cars
Own or rent a motorcycle or RV
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What we mean when we say,
“It’s the people.”
If you choose to work with Fred C. Church as your insurance broker, you will experience our unique approach to finding the right protection plan for you. You will also see how important it is to us that you wholly understand umbrella insurance coverage and how it safeguards your most meaningful assets. Most important, you will learn that, as an independent, employee-owned company, we don’t answer to anyone but you. Our only responsibility is to serve your personal goals, needs, and situation. With Fred C. Church, you will always come first.