An estimated 53 million people will be hitting the slopes in the United States in 2018 according to, National Ski Areas Association. Snow sports is not a skill based activity, many expert participants will find themselves many of the same slopes with beginners. With all the fast-paced entertainment taking place, do you ever think about what would happen if you injured someone after running into them? Do you ever wonder how to protect yourself?
A little reminder, most Homeowners, Condo, or a Renter’s insurance policies provide some underlying coverage for the little things. Unfortunately, in our experience this limit of coverage falls short of covering the total damages. You can be held personally responsible for injuring or causing harm to someone else, even if it was incidental. Personal liability doesn’t end when you get out of the car.
The importance and value of an umbrella can only come from experience. One story comes to mind about Carol, a software developer vacationing on the slopes in Vail. Carol was an experienced snowboarder, who was on her third run of the day. During the run another rider came down the same trail, losing control and crashing into Carol. Carol suffered a complete ACL tear, broken collar bone and a head trauma. These injuries kept Carol out of work for over 6 months!
During the course of 6 months Carol incurred lost wages, medical bills, and legal fees. The at fault parties’ homeowner liability limit was exhausted at $300,000, which fell short of the damages totaling $575,000. Fortunately, the at fault party carried a Personal Umbrella policy which extended to cover the remaining $275,000 loss. This is the part of the story where I tell you that Carol, was not our client in this scenario. Our insured was the at-fault party.
I know we do a great job of educating our clients on the value of having a Personal Umbrella Policy to extend over their autos, boats, and homes; but it is so much more. In this day and age things you say and do can lead to defending yourself in a lawsuit. A Personal Umbrella Policy is there to protect you against the unexpected. We don’t think you should have to be a lifetime, for a split-second mistake.
Before booking your next vacation, don’t forget to ask us about Travel Insurance!