Any lawsuit stories where umbrella helped?

[David C.]

I'm deciding whether or not to get an umbrella policy (property is already in LLC) and will likely get one - but was wondering if anyone had any personal stories where something happened and the umbrella was needed and was effective? Just curious to hear cases. Thanks.

[Tony Wilcox]

It is rare, but they are meant to protect you in extreme cases. Of course it would have to be a claim over the liability on the property for the umbrella to take effect. If the property is in the LLC and there a claim that is high enough to go over the property liability I have heard of people getting around the LLC and going after the owner of the llc as a heads up. For the cost of an umbrella ($180-$400) a year it is worth the protection. Also most of the companies would help in court if it came to it if you have an umbrella policy.