Under this factual example if a Fort Lauderdale, Florida insured had $250,000 worth of underlying liability insurance benefits and a $1,000,000 umbrella policy, with four vehicles insured under the underlying insurance policy, he or she would be afforded up to $2,000,000 worth of both liability insurance benefits, as well as uninsured or underinsured motorist benefits if they either caused such grievous injuries and damages as to warrant such payments, or were negligently caused to suffer same by an uninsured or underinsured wrongdoer.
The additional benefits of having an umbrella liability insurance policy is for it to increase the amounts of liability insurance benefits over and above your underlying liability insurance policies for your homes, RV’s, airplanes, helicopters or other properties that you may own that could expose you to excessive liability judgments.
So for instance, if you have an invited guest at your home and they are seriously injured on your property your umbrella liability policy would increase the amount of liability coverage available for such claims or lawsuits by the amount of umbrella policy benefits you purchased.
An example of a potential excessive liability exposure claim at a Fort Lauderdale, Florida home could be for a pool injury. If a guest was injured while using your pool and it was due to your alleged negligence and that guest suffered catastrophic spinal cord injuries, it is fair to presume that a typical $100,000 underlying homeowner’s insurance policy would leave you seriously exposed for the full amount of damages that could be awarded against the homeowner.
For further discussion regarding this topic please feel free to contact the Fort Lauderdale Accident Lawyers at 1-877-529-0444 begin_of_the_skype_highlighting 1-877-529-0444 end_of_the_skype_highlighting or by email at firstname.lastname@example.org