--- title: Are Your Personal Assets at Risk from a Lawsuit? description: Would you like to look into obtaining umbrella insurance to protect your financial future? At TMA Insurance Trust, we have made it quick and easy to find out how to get the coverage you need. image: https://www.tmait.org/hubfs/February%202019/February_2019_Week_1_Umbrella.1.png --- - [800-880-8181](tel:800-880-8181) - [CONTACT US](https://www.tmait.org/contact) - [SELF-SERVICE PORTAL](https://tmait.aebsys.com/#/) [![](https://www.tmait.org/hs-fs/hubfs/TMA%20Insurance%20March%202019/Image/logo.png?width=197&name=logo.png)](https://www.tmait.org/) Topics All Accident Insurance Accidental Death and Dismemberment Auto & Home Insurance Auto Insurance Business of Medicine Business Overhead Expense Insurance Comparing Insurance Providers COVID-19 FAQs Critical Illness Insurance Dental Insurance Disability Insurance Employed Physicians Family Featured Financial Advice Group Benefits Group Coverage Health Insurance Homeowners Insurance HSA Independent Contractor Independent Physician Individual Coverage Insurance For Good Insurance for Women Insurance Review Key Person Insurance Life Events Life Insurance Locum Tenens Medevac Insurance Medical Insurance Medical Practice Medicare Medicare Part D Medicare Supplement Medigap Nearing Retirement Office Overhead Expense Insurance Open Enrollment Personal Umbrella Insurance Pet Insurance Practice Management Practice Managers Practice Owners Prescription Drug Coverage Renters Insurance Residents Retired Physicians Retirement Short Term Disability Short-Term Medical Insurance Supplemental Hospital Indemnity Insurance Term Life Insurance Travel Insurance Vision Insurance Women Physicians Young Physicans Young Physicians ![February_2019_Week_1_Umbrella.1](https://www.tmait.org/hubfs/February%202019/February_2019_Week_1_Umbrella.1.png) [Personal Umbrella Insurance](https://www.tmait.org/blog/topic/personal-umbrella-insurance) # Are Your Personal Assets at Risk from a Lawsuit? 2 February 2019 As a physician, you’ve devoted many years to study and hard work. You’ve paid your dues to get where you are, and continue to devote yourself to the practice of medicine with all its responsibilities. No one would question that you’ve earned the place you have in life. With hard work and dedication, financial success usually follows. Unfortunately, there are some who may view your financial situation in an opportunistic way. If you are involved in an accident and you are held responsible for damages or bodily injury, the other party may want to take advantage of your financial situation. It is an unfortunate truth: physicians are highly vulnerable to being sued. For this reason, most carry malpractice insurance. However, this protection does not extend to injury or liability outside the field of medicine. For personal protection, an umbrella insurance policy is a wise choice. ## Your Personal Risk in an Auto Accident If you are found at fault in an auto accident, your auto insurance will provide some level of protection. If another driver or passenger is hurt, your automobile insurance may pay for damages up to the limit of your policy. But if the injuries are severe, you could be responsible for damages beyond what your auto insurance covers. If the injured party sues you, your personal assets will likely be at risk. Consider an example. You injure a successful professional in a car accident and are found at fault. The other driver is unable to work for six months. Your automobile coverage has reached its limit of protection by covering property damage and medical bills, and you are presented with a lawsuit for $1 million to cover the lost wages. In the blink of an eye, your home, vehicles, and savings are now at risk. But if you have already put in place an umbrella insurance policy, this coverage could provide the additional financial safety net to help protect your personal property and bank account. Perhaps you may feel that your auto insurance will be enough. In Texas, the minimum liability limits for auto insurance are $30,000 for each injured person up to a total of $60,000 per accident with $25,000 for property damage per accident. This basic coverage is called 30/60/25 coverage. According to the Texas Department of Transportation, the average economic loss per vehicle crash is $72,891. You likely have more coverage than the basic amount. But the potential for loss can be much higher than what your current limits are. Also consider carefully: even though Texas law limits punitive damages in auto accidents, those *limits do not apply to medical expenses, lost wages, or pain and suffering.* Therefore, even generous auto insurance may not be enough to truly protect your personal assets. An umbrella policy will help protect you against any catastrophic financial loss in the event of a lawsuit. [![Have questions about your insurance needs? We're here to help - click here or call today](https://no-cache.hubspot.com/cta/default/400074/694491a9-cfb7-4c3e-8a29-f687bd9538ff.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/694491a9-cfb7-4c3e-8a29-f687bd9538ff) ***[877-755-9576](tel:8777559576)*** ## Your Personal Risk at Home You own a home, and you carry homeowners insurance, so you’re covered for loss due to fire, theft, and other certain losses. But if a visitor or worker is injured on your property, they may see a financial opportunity. Whether their injury is legitimate or not, in the event of a lawsuit, your homeowners insurance limits may be exceeded, leaving your children’s college funds, your investments - and more - at risk. Umbrella insurance extends your coverage so your hard-earned assets have additional protection. ## Easily Reduce Your Personal Risk For many physicians, obtaining protection from an umbrella insurance policy makes good financial sense. In most cases, these policies are available in million-dollar increments, up to 5 million dollars. And best of all, for the protection that they provide to you, they are quite affordable: typically a few hundred dollars per year. Would you like to look into obtaining umbrella insurance to protect your financial future? At TMA Insurance Trust, we have made it quick and easy to find out how to get the coverage you need. Click below to visit MyLifeProtected for a quote, or call an agent directly at [877-755-9576](tel:8777559576). You’ll get quick answers and access to coverage from the leading insurance companies. [![New Call-to-action](https://no-cache.hubspot.com/cta/default/400074/e046c01e-f402-4629-8161-a58fffdf7d6d.png)](https://cta-redirect.hubspot.com/cta/redirect/400074/e046c01e-f402-4629-8161-a58fffdf7d6d) For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry. ** [ Personal Umbrella Insurance ](https://www.tmait.org/blog/topic/personal-umbrella-insurance) ** [**Previous Entries](https://www.tmait.org/blog/five-myths-about-renters-insurance) [Next Entries**](https://www.tmait.org/blog/group-benefits-are-you-getting-the-service-youre-paying-for) ## Recommended Posts ### [Don't Leave Yourself Exposed: Why You Need Personal Umbrella Liability Insurance](https://www.tmait.org/blog/dont-leave-yourself-exposed-why-you-need-personal-umbrella-liability-insurance) ### [Protect Your Assets with Personal Umbrella Liability Insurance](https://www.tmait.org/blog/protect-your-assets-with-personal-umbrella-liability-insurance) ### [You’re At Fault In An Accident – Are Your Personal Assets Protected?](https://www.tmait.org/blog/youre-at-fault-in-an-accident-are-your-personal-assets-protected) ### [Texas Physicians: When it Rains it Pours, Protect Yourself with Umbrella Insurance](https://www.tmait.org/blog/texas-physicians-when-it-rains-it-pours-protect-yourself-with-umbrella-insurance) ### [For Personal Liability Protection - Grab an Umbrella](https://www.tmait.org/blog/for-personal-liability-protection-grab-an-umbrella) ### [How Umbrella Insurance Helps Protect You from Personal Liability](https://www.tmait.org/blog/how-umbrella-insurance-helps-protect-you-from-personal-liability) ### [How You Can Save A Bundle On Insurance - One Member’s Story](https://www.tmait.org/blog/how-you-can-save-a-bundle-on-insurance-one-members-story) ### Latest Post ![A New Alternative for Group Health Insurance](https://www.tmait.org/hubfs/July%202026/July%202026%20Week%201%20-%20Group%20Health.png) ### [A New Alternative for Group Health Insurance](https://www.tmait.org/blog/a-new-alternative-for-group-health-insurance-group-benefits) Jul. 04 2026 ![Why Going It Alone on Group Health Coverage Costs Your Practice](https://www.tmait.org/hubfs/June%202026/June%202026%20Week%204%20-%20Group%20Health.png) ### [Why Going It Alone on Group Health Coverage Costs Your Practice](https://www.tmait.org/blog/why-going-it-alone-on-group-health-coverage-costs-your-practice-group-benefits) Jun. 27 2026 ![Dental Insurance and the Habits It Helps Shape](https://www.tmait.org/hubfs/June%202026/June%202026%20Week%203%20-%20Dental.png) ### [Dental Insurance and the Habits It Helps Shape](https://www.tmait.org/blog/dental-insurance-and-the-habits-it-helps-shape) Jun. 20 2026 ![Unexpected Doesn't Have to Mean Unprepared This Summer](https://www.tmait.org/hubfs/June%202026/June%202026%20Week%202%20-%20Accident.png) ### [Unexpected Doesn't Have to Mean Unprepared This Summer](https://www.tmait.org/blog/unexpected-doesnt-have-to-mean-unprepared-this-summer) Jun. 13 2026 ### POPULAR TOPICS - [Practice Owners (218)](https://www.tmait.org/blog/topic/practice-owners) - [Women Physicians (182)](https://www.tmait.org/blog/topic/women-physicians) - [Independent Physician (175)](https://www.tmait.org/blog/topic/independent-physician) - [Young Physicians (163)](https://www.tmait.org/blog/topic/young-physicians) - [Insurance for Women (162)](https://www.tmait.org/blog/topic/insurance-for-women) - [Employed Physicians (155)](https://www.tmait.org/blog/topic/employed-physicians) - [Locum Tenens (136)](https://www.tmait.org/blog/topic/locum-tenens) - [Residents (134)](https://www.tmait.org/blog/topic/residents) - [Disability Insurance (128)](https://www.tmait.org/blog/topic/disability-insurance) - [Health Insurance (127)](https://www.tmait.org/blog/topic/health-insurance) - [Practice Managers (94)](https://www.tmait.org/blog/topic/practice-managers) - [Life Insurance (86)](https://www.tmait.org/blog/topic/life-insurance) - [Independent Contractor (84)](https://www.tmait.org/blog/topic/independent-contractor) - [Open Enrollment (73)](https://www.tmait.org/blog/topic/open-enrollment) - [Group Benefits (65)](https://www.tmait.org/blog/topic/group-benefits) - [Group Coverage (61)](https://www.tmait.org/blog/topic/group-coverage) - [Retired Physicians (59)](https://www.tmait.org/blog/topic/retired-physicians) - [Individual Coverage (58)](https://www.tmait.org/blog/topic/individual-coverage) - [Nearing Retirement (57)](https://www.tmait.org/blog/topic/nearing-retirement) - [Family (52)](https://www.tmait.org/blog/topic/family) - [Medicare (43)](https://www.tmait.org/blog/topic/medicare) - [Medical Practice (39)](https://www.tmait.org/blog/topic/medical-practice) - [Business Overhead Expense Insurance (35)](https://www.tmait.org/blog/topic/business-overhead-expense-insurance) - [Practice Management (35)](https://www.tmait.org/blog/topic/practice-management) - [Critical Illness Insurance (33)](https://www.tmait.org/blog/topic/critical-illness-insurance) - [Medicare Part D (31)](https://www.tmait.org/blog/topic/medicare-part-d) - [Dental Insurance (30)](https://www.tmait.org/blog/topic/dental-insurance) - [Medicare Supplement (29)](https://www.tmait.org/blog/topic/medicare-supplement) - [Life Events (28)](https://www.tmait.org/blog/topic/life-events) - [Insurance For Good (26)](https://www.tmait.org/blog/topic/insurance-for-good) - [Business of Medicine (25)](https://www.tmait.org/blog/topic/business-of-medicine) - [Auto Insurance (21)](https://www.tmait.org/blog/topic/auto-insurance) - [Accident Insurance (20)](https://www.tmait.org/blog/topic/accident-insurance) - [Homeowners Insurance (19)](https://www.tmait.org/blog/topic/homeowners-insurance) - [Retirement (15)](https://www.tmait.org/blog/topic/retirement) - [Short Term Disability (15)](https://www.tmait.org/blog/topic/short-term-disability) - [Young Physicans (15)](https://www.tmait.org/blog/topic/young-physicans) - [Medical Insurance (12)](https://www.tmait.org/blog/topic/medical-insurance) - [Featured (11)](https://www.tmait.org/blog/topic/featured) - [Medigap (11)](https://www.tmait.org/blog/topic/medigap) - [Accidental Death and Dismemberment (10)](https://www.tmait.org/blog/topic/accidental-death-and-dismemberment) - [HSA (10)](https://www.tmait.org/blog/topic/hsa) - [Personal Umbrella Insurance (10)](https://www.tmait.org/blog/topic/personal-umbrella-insurance) - [Insurance Review (9)](https://www.tmait.org/blog/topic/insurance-review) - [Renters Insurance (9)](https://www.tmait.org/blog/topic/renters-insurance) - [Term Life Insurance (9)](https://www.tmait.org/blog/topic/term-life-insurance) - [Auto & Home Insurance (8)](https://www.tmait.org/blog/topic/auto-home-insurance) - [Supplemental Hospital Indemnity Insurance (6)](https://www.tmait.org/blog/topic/supplemental-hospital-indemnity-insurance) - [Travel Insurance (6)](https://www.tmait.org/blog/topic/travel-insurance) - [Comparing Insurance Providers (3)](https://www.tmait.org/blog/topic/comparing-insurance-providers) - [Pet Insurance (3)](https://www.tmait.org/blog/topic/pet-insurance) - [Short-Term Medical Insurance (3)](https://www.tmait.org/blog/topic/short-term-medical-insurance) - [Medevac Insurance (2)](https://www.tmait.org/blog/topic/medevac-insurance) - [Office Overhead Expense Insurance (2)](https://www.tmait.org/blog/topic/office-overhead-expense-insurance) - [Vision Insurance (2)](https://www.tmait.org/blog/topic/vision-insurance) - [COVID-19 FAQs (1)](https://www.tmait.org/blog/topic/covid-19-faqs) - [Financial Advice (1)](https://www.tmait.org/blog/topic/financial-advice) - [Key Person Insurance (1)](https://www.tmait.org/blog/topic/key-person-insurance) - [Prescription Drug Coverage (1)](https://www.tmait.org/blog/topic/prescription-drug-coverage) [See all](https://www.tmait.org/blog/are-your-personal-assets-at-risk-from-a-lawsuit#) ### Newsletter signup to receive our monthly newsletter [* * Request a Quote](https://www.tmait.org/blog/are-your-personal-assets-at-risk-from-a-lawsuit#bott-scroll) ![border](https://www.tmait.org/hs-fs/hubfs/TMA%20Insurance%20March%202019/Image/border.png?width=1200&name=border.png "border") ### Quick Links - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Home](https://www.tmait.org/) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Testimonials](https://www.tmait.org/testimonials) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [About](https://www.tmait.org/about) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Privacy Policy](https://www.tmait.org/privacy-policy) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Contact](https://www.tmait.org/contact) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Resources](https://www.tmait.org/resources) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Our Blog](https://www.tmait.org/blog) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Self-Service Portal](https://tmait.aebsys.com/#/) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Insurance For Good](https://www.tmait.org/blog/insurance-for-good) - ![](https://www.tmait.org/hubfs/TMA%20Insurance%20March%202019/Image/double-arrow.png) [Anticipate Joy](https://www.tmait.org/anticipate-joy) ### Connect With Us - [* *](https://www.facebook.com/TMAInsuranceTrust) - [* *](https://twitter.com/TMAIT) - [* *](https://www.youtube.com/user/TMAInsuranceTrust) We were created and are exclusively endorsed by the [Texas Medical Association](https://www.texmed.org/) © 2026 TEXAS MEDICAL ASSOCIATION INSURANCE TRUST © 2026 TEXAS MEDICAL ASSOCIATION INSURANCE TRUST ![](https://googleads.g.doubleclick.net/pagead/viewthroughconversion/956622860/?value=0&guid=ON&script=0) ![](https://analytics.twitter.com/i/adsct?txn_id=l5yi3&p_id=Twitter&tw_sale_amount=0&tw_order_quantity=0) ![](https://t.co/i/adsct?txn_id=l5yi3&p_id=Twitter&tw_sale_amount=0&tw_order_quantity=0) ![](https://analytics.twitter.com/i/adsct?txn_id=nukif&p_id=Twitter&tw_sale_amount=0&tw_order_quantity=0) ![](https://t.co/i/adsct?txn_id=nukif&p_id=Twitter&tw_sale_amount=0&tw_order_quantity=0)