Protect What You've Built From What You Can't Predict
In today's litigious society, a comprehensive insurance plan is as important as managing investment risk in a portfolio — particularly for those who have a lot to lose, or who prefer to live life in the driver's seat.
Just how you "buy insurance" to hedge a portfolio and manage investment risk, managing your personal liability through insurance is a vital step toward reducing the devastating impact a lawsuit can have on your financial life. Unfortunately, even if the suit levied against you is meritless, addressing it in court takes time and money — and the more wealth you have, the greater the likelihood you'll be sued after an accident.
Cavalry helps clients craft tailored insurance portfolios that address all of their liability protection needs — coverage for legal and defense fees, as well as any potential damages, without causing undue harm to your personal holdings.
General Liability & Excess Liability, Explained
General Liability Coverage
General liability (GL) insurance provides broad protection for basic liability risks — legal liability arising from third-party bodily injury or property damage caused by your personal actions, or on personal premises you own.
While it doesn't cover every possible peril, GL is a broad coverage that can include legal and court costs, as well as claims paid in lawsuits if someone or something is harmed or damaged by you or things that belong to you.
Umbrella Liability Insurance
Excess liability insurance, or umbrella coverage, safeguards against large-scale risks by providing additional protection over and above the limits of a standard GL policy — with a standard GL claims limit topping out at $1 million per occurrence, an excess liability policy can add up to $5 million more in personal liability protection and legal defense expenses.
It protects you against catastrophic loss that could exhaust your primary liability policies, and can be placed over a general liability policy, your auto liability, and your homeowners coverage too.
The more wealth you have, the greater the likelihood you'll be sued after an accident — even when the claim against you is meritless.
Everyday Risks That Add Up
Your Dog Bites the Neighbor
A single incident on your own property can lead to a claim for medical costs, legal fees, and damages.
A Guest Is Hurt on Your Boat
Recreational property and watercraft carry their own liability exposure beyond a standard homeowners policy.
An Offhand Comment Causes Harm
Being overheard speaking ill of a local business can lead to a defamation claim, even without intent.
Ready to Close the Gap in Your Coverage?
Let's start with a conversation about what you have in place today, and where the gaps might be.
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