In general, if you own a business where you have to deal with frequent claims, it would be prudent of you to get an umbrella liability insurance policy. However, some of the common features among people who frequently get umbrella liability coverage include the following:
- They own sizeable real estate property.
- They have extraordinary savings.
- They own items that are more likely to cause injury or damage, such as dogs, swimming pool, electric fence, etc., than other kinds of items.
- They frequently participate in activities that are likely to result in lawsuits.
Some examples of these parties could be:
- Sports coaches
- Non-profit organizations' board members
- Extreme sports participants