In 2010, a number of insurance industry trade journals reported that former professional wrestler Hulk Hogan sued his insurance agent for failure to advise him of the availability and cost of personal umbrella liability insurance. This resulted from a serious car accident that his son was involved in for which his auto liability limit of $250,000 was not sufficient for injuries to a passenger.
This potentially important coverage supplements your auto and personal liability insurance with limits available for $1 million to $10 million. The cost of this generally begins at $150 per year.
Policyholders with teenage drivers might be especially vulnerable to the effects of a serious accident. They have higher accident frequencies which might result in a costly liability claim.
Contact our office with questions about this topic or any insurance questions you may have.
Call 614-459-6500 and ask for Dan or Ken.
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