If you’re involved in a serious car crash caused by another driver, their auto insurance coverage may not be enough to cover the cost of your care. Catastrophic injuries can require long-term (and possibly permanent) care as well as modifications to a person’s home. It can mean that a victim is no longer able to work for an extended period.
Even if the person responsible for the crash had more than the minimum required coverage, it may not be enough to cover your expenses and damages. When this happens, victims sometimes file a civil lawsuit against the at-fault driver to seek additional needed compensation.
However, the driver may not have enough assets to fully compensate those injured in the crash – at least without losing their home and everything they own. What they may have, however, is an umbrella insurance policy.
What types of injuries can umbrella policies cover?
Often, people with considerable assets to protect (even if their primary asset is their home) buy an umbrella policy in addition to their car, homeowners’ and other policies to protect their assets in a number of scenarios – including serious injury or damage for which they’re held responsible. These can include:
- A serious car, boat or aircraft crash
- A dog bite/attack injury
- Injury to property caused by their child
- An injury on their property – such as in their pool
Unless a defect in the other driver’s vehicle was responsible for the crash or you were struck by a commercial vehicle owned by a company that can afford to pay the compensation you need, an at-fault driver’s umbrella policy can at least help make you whole financially. With experienced legal guidance, you can determine all potential sources of compensation.