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Tools to Help You SELL Stand-Alone Personal Umbrella

Offering Personal Umbrella on every account is a great way to keep your clients protected while growing your business. It's a win/win!

Here at Concorde we offer Stand-Alone Personal Umbrellas that can go over underlying policies with other carriers, defense costs are in addition to the policy limit and multiple additional insureds can be added at no additional premium.  Plus, Quoting Online is quick and easy!  This program offers you options to add an Umbrella quote to accounts that don't fit your typical package.

This flyer can help your clients see the value in a Personal Umbrella through claims examples, and is customizable if you'd like to add your agency's contact information.  

Have clients on the fence about purchasing a Personal Umbrella? 
Here are some points to share with them...

1. It's not expensive! A $1 million policy runs between $150-$300 (according to the Insurance Information Institute) and can literally save your clients from loss of their home or complete financial ruin in the event they are sued. That is a pretty small investment for the added peace of mind.

2. Anyone can be sued. In today's society, anyone can become caught in the middle of a misunderstanding, moment of negligence or even loss of temper that can forever change their life if a lawsuit is brought against them. Lawsuits are becoming common, and they are not just brought against the "rich." 

3. Umbrellas protect against more than most people realize. Some common exposures that may be covered include:

  • Defense costs. It covers expensive legal fees to defend you in a lawsuit, even if you win your case.  This alone can run thousands of dollars.

  • Significant property damage. Your standard auto insurance liability limit may be exhausted if you are at fault in an auto accident where you destroy another vehicle and/or other property. An umbrella provides coverage above this, when those limits are exhausted.

  • Serious bodily injury liability. Your homeowner’s insurance liability limit may be insufficient to cover medical and other costs related to a guest falling off a balcony at your home, being bitten by your dog, or slipping by the pool.  Do you own vacant land that the public could access? Someone who gets hurt on your property, even if uninvited, could sue you for damages. It's even riskier if you lease it out.  Small recreational and transportation vehicles such as ATVs, golf carts, personal watercraft and boats are fun! Until someone gets hurt.

  • Landlord liability.  Do you own rental properties? A tenant might file an expensive suit over an injury sustained while renting your property. The more tenants you have, the higher your lawsuit risk. 

  • Libel or slander. Lawsuits could result from something that you say or write about another person. Social media participation is something most people partake in, but verdicts for words posted about individuals or companies online have brought millions in damages. Does anyone in your home serve on a charitable board? Those who serve on corporate boards of directors are usually protected from personal liability, but those working for charities or non-profits often don't get the same protection. (File that under "no good deed goes unpunished.") 

  • Malicious prosecution. You may file a suit against someone and in turn be sued for wrongfully, or maliciously, prosecuting that individual.  If someone sues you and gets a judgment that exceeds your coverage, your future earnings may also be on the line, and could be garnished up to 25 percent.


For additional information or to discuss an account, please contact our Personal Lines Team at 1-800-726-1611.