General "personal Liability" Insurance?

[TonyC]

General "personal liability" insurance?

Does anyone know of a personal liability plan for general liability?

I have heard from a friend that there is a policy available that is available that covers all types of liability.

For example, if a policy holder is sued for liability for actions taken in his line of work?

thank you for your input.

 

[Milkman1265]

are you talking about commercial or personal lines?

general liability would cover the named insured sued for personal injury, unless you are talking about PROFESSIONAL liability.

 

[oldinsuranceguy]

I'm not sure that such product exists.

You either buy general liability on a personal basis or commercial basis but they don't cover all types of liability, especially not professional liability.

Maybe some kind of umbrella could have wider coverage?

 

[TonyC]

Lets say John Smith (JS) owns a lot of RE, has money and assets.

CASE 1.
JS drives down the street and some kid runs in front of his car and gets hit and paralyzed. His auto liability is only good up to 100k. The Plaintiff's lawyers want 1mil. What does he do? What kinda coverage can he get to cover his arse?

CASE 2
JS is flying his Twin Engine Prop plane and upon landing, his plan malfunctions and skips into another Prop Plane that was awaiting take-off and injures the pilot and passenger. His liability for the Plane is only 100k. What kinda additional coverage can he get to cover his arse?

MY QUESTION IS...is there a blanket policy that will cover JS in his daily activities ABOVE and Beyond his normal coverages?

Anyone know?

 

[Milkman1265]

I think you are talking about a personal umbrella, which would cover the liability in excess of the auto liability.

And then for the pilot case, wouldnt he have pilot/flying insurance? Umbrella would also cover that if you told them about the flying exposure.

But a personal umbrella would cover his personal liabilities and commercial covers his "business" liabilities. It's rare that a commercial would take on personal liabilities, but i had a case where i had them listed both under it but the in the end it made more sense to split the umbrellas.

 

[bobson]

Lets say John Smith (JS) owns a lot of RE, has money and assets.

CASE 1.
JS drives down the street and some kid runs in front of his car and gets hit and paralyzed. His auto liability is only good up to 100k. The Plaintiff's lawyers want 1mil. What does he do? What kinda coverage can he get to cover his arse?

CASE 2
JS is flying his Twin Engine Prop plane and upon landing, his plan malfunctions and skips into another Prop Plane that was awaiting take-off and injures the pilot and passenger. His liability for the Plane is only 100k. What kinda additional coverage can he get to cover his arse?

MY QUESTION IS...is there a blanket policy that will cover JS in his daily activities ABOVE and Beyond his normal coverages?

Anyone know?

I don't know of a single company that will issue a personal umbrella with only $100,000 of under lying auto limits. My companies require at least $250,000/$500,000 or $300,000CSL. But a personal umbrella policy is what he needs. How big? I'll tell you after the lawsuit is settled.

 

[mike7860]

Personal liability insurance is probably claimable when physically disabled.

 

[yorkriver1]

You can find excellent personal, commercial and umbrella (high limit additional) liability coverage available for the situations you describe. Different carriers may be better than others, say, when aviation exposure is involved.
Sometimes one umbrella can be written over all liability exposures, personal and commercial, sometimes it makes sense to split them up. Depends on cost, coverages/maximum limits offered, what exposures they will cover, etc.
If no one has PM'd you for any particulars you need, you can let folks here know if you would like further info.