dm200 wrote:We have a $2 million policy. Peace of Mind and being able to sleep at night are the benefits.
Does anyone have any experience when having an umbrella policy was very worthwhile, either by paying on a judgment, by defending a lawsuit or preventing a lawsuit?
Only anectdotal. A friend of a friend of a friend was a bridesmaid in a wedding. She hung her dress on the head of her hotel room's fire sprinkler, resulting in it going off after she left. Long story short, her homeowners policy did not provide coverage for premises rented to her, and her umbrella paid the nearly five figure (gulp!) claim.
Another story I heard from a representative of my insurance company. A neighbor alleged that the company's insured flipped him the bird as he drove past, so he actually sued, alleging emotional distress and personal injury. Even though the lawsuit was frivolous, the umbrella policy was activated and defended the insured in court.
"Does not Dionysius seem to have made it sufficiently clear that there can be nothing happy for the person over whom some fear always looms?" -- Cicero