Why Should You Care About Personal Liability?

First off, personal liability isn't just about having insurance; it's about protecting your assets and financial future. With the frequency and cost of liability claims going up, you could be more exposed than you think. Imagine being in a car accident or having someone get injured on your property. Your regular home or auto insurance might not cover everything, leaving your personal assets at risk.

Trends You Should Know About

1. Rising Claims and Costs:

• Car Accidents: Fatalities from car accidents, including those involving pedestrians, are increasing. Speeding, distracted driving, and intoxication are major culprits here.
• Home Incidents: Slip-and-fall accidents, dog bites, and other injuries on your property are on the rise. If you have visible assets, you might be a target for such claims.

1. Bigger Settlements:

• Lawsuits Are Common: People are suing more often, and the amounts they’re awarded are growing faster than inflation. This is partly due to aggressive legal advertising.
• High Jury Awards: Jury verdicts are getting heftier, especially for non-economic damages like emotional distress or PTSD.

Real-Life Scenarios

• Pool Party Gone Wrong: Imagine hosting a pool party and a guest gets seriously injured. One such case led to a $15.5 million demand.
• Car Accident with a Cyclist: A driver hit a cyclist while texting, leading to severe injuries and a $10.5 million claim.
• Under-Insured Motorist: If you're hit by someone with inadequate insurance, your costs could skyrocket. One individual faced a $9.75 million claim after a severe neck injury.

Why Chubb Stands Out

Chubb offers some of the best protection out there, with high limits and worldwide coverage. They provide defense costs even after your liability limit is reached and cover acts of your domestic employees. Plus, their dedicated claims team partners with experienced defense counsel to support you through every step of the litigation process.

What Should You Do?

Given these trends, it might be time to consider a personal excess liability policy. This can provide an extra layer of protection beyond your standard home or auto insurance. Talk to your insurance agent or broker to see what fits your needs.

Download the full guide below. We’ve only scratched the surface here!

Stay safe and protected, everyone! 

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