We’ve all heard the saying when it rains it pours. When something goes wrong, it can end up unleashing a storm of difficulties. Insurance was made for those rainy days and umbrella liability insurance was made for those times when a rainy day turns into a storm.

Umbrella insurance is personal liability insurance that protects you if you find yourself the subject of a lawsuit. Unfortunately, lawsuits happen every day. At any time, an everyday situation can go horribly wrong and result in a life-changing event that results in a lawsuit.

When most physicians think about liability insurance, the first product that comes to mind is professional liability also known as medical malpractice insurance. However, malpractice insurance doesn’t protect you when things go wrong outside of the practice of medicine. For example, if someone gets injured in your home or on your property or hurt in an accident where some member of your family was at fault, it could result in an expensive personal injury lawsuit. That’s when umbrella insurance can protect you.

In the litigious world we live in anybody can be sued, but as a physician your income and assets make you more likely to be targeted for a lawsuit. If you haven’t seriously considered umbrella insurance, here are some questions we invite you consider:

Do You Have a High-Risk Driver in Your Household?

According to recent statistics, the number of personal injury lawsuits in Texas has hit an all-time high, with car accident lawsuits being the largest contributor to the increase. If you have dependent children under your auto insurance policy, you should seriously consider umbrella liability insurance.

The risk of motor vehicle accidents is higher among teens than among any other age group. If your teenage son or daughter causes an accident, it could open you up for a lawsuit. In addition to legal defense costs, you could also be found liable for damages including medical bills and expenses. Your auto policy will protect you, but only up to the level of coverage that you chose when you took out your policy. Unfortunately, many Texas drivers have only the minimum liability coverage that is required by law. If you are sued for medical bills, lost wages, pain and suffering, the damages could easily exceed what’s covered under your policy. When that happens, you can be on the hook to come up with the difference. An umbrella policy will pick up where your auto policy leaves off and protect you and your family against the catastrophic financial losses a lawsuit could bring.

Do You Have Assets That Could Be At Risk?

You’ve sacrificed and worked hard for everything you own. But all could be at risk in a lawsuit. If a lawsuit results in wages being garnished, not only your current assets but even your future income and inheritances could be at risk. Imagine the financial devastation that would bring upon you and your whole family. Many homeowners and auto insurance policies do not provide enough coverage to adequately protect you in a lawsuit. Umbrella insurance can provide the added protection you deserve.

Your umbrella policy comes with another very important added benefit. In addition to the extra liability protection, in the event of a lawsuit, the insurance company’s attorneys will vigorously defend both you and their company’s interest.

TMA Makes It Easy to Get the Protection You Deserve

Even the most careful and responsible person can still find themselves in the midst of a personal liability lawsuit. At TMA Insurance Trust, we value the sacrifices you have made and want to help you protect what you worked so long to build. Umbrella liability insurance provides essential protection that is surprisingly affordable.

We have also made it easier than ever for TMA members to get the personal liability protection you need. Click below to visit MyLifeProtected or call an agent directly at 877-755-9576. You’ll find the assistance you need to start protecting yourself today.

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.