Personal Insurance Business Insurance The Mavco Difference The Mavco Team
April 2016 (630) 655-2410
Why Do I Need Personal Umbrella Liability Insurance?

Just like keeping a physical umbrella handy to shelter you from sudden rainstorms, so too should you keep an umbrella insurance policy to shield your assets in case of unexpected mishaps.

Consider some of the situations in which umbrella insurance comes in handy:
  • Your teenager runs a stop sign, causing a serious accident. This situation resulted in a $50 million settlement.
  • A deliveryman falls on your sidewalk and is seriously injured. This exact occurrence resulted in a $8.9 million judgement.
  • A babysitter is injured by your otherwise friendly dog. This resulted in a $7.7 million judgment.
  • Your daughter makes disparaging and false remarks about her teacher online. A teacher won a $750,000 judgment for such actions.
Nobody wants to think about being sued or injured, but unexpected accidents and catastrophes are a fact of life. What’s more, in some cases, plaintiffs could seek restitution from your savings, future wages and even home as part of their judgment. In order to keep yourself, your assets and your loved ones safe, invest in umbrella insurance.

Stay covered with umbrella insurance!
Are The Assets Safe In Your Trust, LLC Or Other Entity?

When it comes to protecting your assets, putting them in a trust or limited liability corporation (LLC) seems like a sure thing. Trusts are one of the best estate planning techniques available, according to the American Academy of Estate Planning Attorneys. Though for even greater protection, add them to your insurance policy.

Did you know? Residence trusts or LLCs are now included under what may be insured under optional Protection Endorsement.

What to do: Let your agent know if you put assets in a trust, LLC or other entity.

Learn more about asset protection!
ABOUT MAVCO
Mavco is an independent insurance agency located in Hinsdale, Illinois. We provide personal and business insurance solutions, and specialize in supporting the complex needs of high net worth individuals and their families.

Meet the Mavco team. We offer a level of care and attention that cannot be matched.