With as little rain as we’ve had in Texas the last few months, it’s hard to think about needing an Umbrella, but many more of your clients need the protection than you may think.

An Umbrella policy protects against liability lawsuits. In these days when people can win a huge lawsuit over being surprised that coffee is hot, serious liability protection is more important than ever. Without the proper coverage you could see your entire life’s work evaporate in one gut-wrenching bang of a gavel.

You may need a Personal Umbrella policy if you:

• Own or drive a car. In one study by Gen Re (a Berkshire Hathaway company), serious auto accidents were almost 90% of total personal umbrella losses. In just one example, a driver talking on his cell phone crashed into a motorcycle, causing brain and organ damage to the motorcycle passenger, resulting in a settlement of $2.9 million.

• Own a rental property. Rental properties can be great sources of income, but they can also pose big exposures. In just one example, two children died in a fire after playing with matches at a rental property, resulting in a $1.1 million settlement.

• Own a dog. Texas is one of the more owner-friendly states and follows a “one bite rule” that means legal liability for a dog bite requires that a) the owner knew the dog had bitten someone previously or had the dangerous propensity to bite a person, b) the bite was caused by the negligence of the dog owner or handler, c) the bite was caused by a violation of a leash or other animal control law, or d) the injury was caused intentionally by the person handling the dog. Nevertheless, dog bite liability claims can be very severe, with one woman who suffered wounds from a dog bite receiving a verdict of $1.5 million.

• Use a computer or cell phone. In 2007 there were 106 lawsuits against people posting statements on the internet, and the number of these lawsuits has been increasing rapidly. Suits and claims from bullying related to cell phone texts and pictures are also becoming more common. Even if you win a case like this, defending against it without insurance to cover legal fees can be financially catastrophic.

• Want the best value in liability coverage. iMGA now offers excellent Personal Umbrella coverage with limits from $1 million to $5 million, underwritten by an A.M. Best A Rated A size XV insurance company. Limits that large can frequently be added for less than the liability cost just on a personal auto policy, and also includes coverage for exposures not included in the either auto or homeowners insurance policy.

Skipping through these scary legends of our jackpot court system, don’t you think you should talk to your clients about their willingness to expose their assets to the redistribution of their wealth to ambulance chasers and lottery hopefuls?

If you are a Texas Independent Insurance Agent who does not already represent iMGA and you’d like to be able to offer this coverage to your clients, contact us today.

If you are a Texan who would like this valuable protection – talk to your Texas Independent Insurance Agent about getting an iMGA umbrella. They’d also be happy to help you with an iMGA homeowners, rental property, dwelling fire, or mobile home policy with included Equipment Breakdown coverage and give multi-policy discounts!  Or if you’d prefer, complete the form and we’ll refer you to the nearest iMGA agent.