A $1 million settlement would put them in the top 100 claims in the US in a typical year and that includes all claims the majority of which are against businesses and governments. With 330 million Americans, that is a 100/330,000,000 chance of needing the insurance. That's 0.00003% chance.I have a family member who was injured in an auto accident (wasn't killed and didn't lose a limb, but did suffer for years as a result of the accident). They were awarded in excess of the underlying insurance limit plus $1M umbrella. Underinsured insurance of the vehicle they were riding in paid the rest.Yes exclusions for many things. I know my umbrella excludes aviation liabilities. From what I remember it excludes marine/ boat related liabilities other than the boat I own and I had to have 300K liability on it. I read an article today that said 94% of one companies umbrella claims were auto related. I’d just like to meet one person who used their umbrella policy so I feel better about the $300 I just spent.
Statistics: Posted by snackdog — Wed Feb 21, 2024 3:19 pm — Replies 13 — Views 1382