You serve alcohol at your party. Your guests have a great time. But one partygoer has too much to drink. That guest crashes into another car. The next thing you know you’re involved in a lawsuit — all because of your intoxicated guest.
It’s possible. According to the U.S. Department of Transportation, 16,885 people died in alcohol-related crashes last year. It’s even more likely that you don’t have enough insurance to cover the legal fees and damages you could be forced to pay.
Although homeowner insurance policies typically provide a minimum of $100,000 worth of liability insurance, to insure yourself against larger liabilities you need an umbrella polic.
A lot of people think that their friends will not sue them, but the reality is that it won’t be their friends…it’s going to be the person that they injured.
Umbrella policies are usually sold in increments of $1 million, and normally cost about $150 to $250 a year per $1 million of coverage. Inexpensive protection for your family and the people who may be injured by your guests.