From the Front Lines: Personal Umbrella

How did you get started at your agency?

My business partner and I had worked at a bank agency for several years, and the bank sold. Since we did not go with the sale, we had to find something else. We did our research and put our heads together and decided to open our own agency.

Why personal umbrellas?

We’ve become a litigious society–it’s too easy for anyone to sue anyone for anything. Personal umbrella is an added product line we offer. We’re primarily a property-casualty agency, and the umbrella rounds out the personal coverages we have available.

Biggest personal umbrella challenges?

Trying to help the customer realize why they need the coverage. Either they don’t feel they will be sued for anything, or they don’t feel they have sufficient assets that would warrant that amount of extra protection. I try to ask questions regarding potential assets they may have, whether it’s their house and cars, or I ask about their retirement plans and investment assets. I just list off things what could possibly be in jeopardy if they were to be sued successfully for a large amount. I try to make them see that maybe they have more to protect than they thought they did.

Advice for a fellow personal umbrella agent?

Always look for a way to bring personal umbrella into the sales conversation. I look for occupations, values on properties, and toys they may have—boats, campers, and things like that. If I get the feeling a specific account should really have one, I automatically quote it when I’m quoting their auto and home.

Future of personal umbrellas?

I see the need becoming greater as time goes on. I think more people should have one now than actually do. With the cost as reasonable as it is for most people, it’s something every personal lines client should consider. I think it’s going to be a while before things get better. We’re going to see more situations arising where people are looking for reasons to sue other people.

Favorite success story?

In 40 years, I’ve never had a claim under a personal umbrella policy. I’ve had many customers thank me because no one else had even mentioned the coverage to them, let alone suggested they need it.