Joe is a great guy. Beautiful family. Owned his own home. Good job. Boy scout leader. Little league coach. Church trustee. He lived the American dream.
One afternoon in May 2011 Joe left work early. He got in his car and was on his way home. He would be coaching his son’s little league game that night. He was euphoric. They had practiced for weeks and he knew this would be the best season yet. Bats. Balls, Homeruns. A few strikes. His mind was not behind the wheel.
THUD! SCREECH! OH MY G… The last thing he remembers was the little girl’s bike flying over his windshield. He pulled the car over and got out. He trembled as he saw her lifeless body laying in the road. He prayed for her. The paramedics came. He was dazed. His heart ached for her parents because he knew how much he loved his own three kids.
About a month later he got a certified letter from a lawyer in Tulsa. He was getting sued for $2,000,000. Several months later in court, the jury awarded the little girl’s family $1,250,000. Joe’s auto insurance company quickly paid the full policy limit of $300,000 and walked away. He still owed $950,000. Well, they took his savings, and even the little bit of money he had set aside for his own kids’ educations. Those things came to about $175,000. He still owed them $775,000 and would have his wages garnished for the rest of his life.
Nothing would ever bring the darling little girl back. Her parents would be heartbroken forever. Joe would always have a place in his heart for her.
Joe’s legal nightmare will never be over. The whole mess could have been avoided for as little as $150.00/year, by purchasing an umbrella policy.
You maybe asking yourself what is an umbrella policy, basically it is excess liability for when you exhaust the liability on your auto or home policy.
To learn more about umbrella insurance please visit our website: http://www.rci-ins.com/insurance-solutions/personal-insurance/umbrella-insurance/