Will your primary insurance policies be enough?

Auto, homeowners and other property insurance liability limits may not be adequate to cover a large court judgment. The example to the right shows how easy it is to find yourself without enough coverage – even if you have high liability limits on your auto or property policy.

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Umbrella BrydenandSullivan250

The driver in this fictional example was involved in an at-fault accident that resulted in serious injuries to the other driver. The at-fault driver was sued, and the lawsuit resulted in a judgment as shown below.

Judgment amount:	$1,500,000
Auto liability limit:	$500,000 (maximum payout on the policy)

Gap in coverage (what the driver owes)	$1,000,000

Because this judgment was greater than the driver’s auto limits and the driver still owes an additional $1 million on the judgment, his personal assets (i.e., money in the bank, investments, personal property, etc.) could be at risk. An umbrella policy with a limit of $1 million would have helped avoid the gap in coverage. With rates for around $17 per month,* a Travelers Umbrella policy is valuable protection. Your Bryden and Sullivan agent can work with you to develop a customized “At Risk” worksheet to determine what level of coverage is appropriate for your needs.

* For a policy with a $1 million limit of liability and standard deductibles. Policy is for a single-vehicle risk with no youthful operators. The price also assumes that the named insured’s personal auto insurance is with a Travelers affiliated company. Actual price will vary. Rates vary by location, amount of coverage, and underwriting characteristics, and are subject to change. The price is based on the rates in effect as of the date of this brochure. Price does not include the monthly installment fee that applies in most states.

Homeowners

Hyannis Office
88 Falmouth Road Rt 28
Hyannis, MA 02601
508-775-6060
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Bryden and Sullivan operates solely within the State of Massachusetts
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