Should You Consider Umbrella Liability Insurance?

Spring is a very busy time. Once winter hibernation ends, it seems that many of us start home renovations. We purchase cottages, start landscaping projects and plan fun, family summer adventures.

With all your activities and the growth of your personal assets, there is a need to protect you and your family from heightened liability risks. An umbrella liability policy works to protect against events that could impact a substantial portion of your future earnings and personal assets. Legal costs are substantial and legal awards can escalate quickly. Even a minor incident could develop into a major lawsuit. You could be sued if you, your spouse, your children, even your pet are responsible for an accident that causes bodily injury or property damage to someone else.

We can’t predict whether you might lose a lawsuit resulting from such accidents. We can’t predict the amount that might be awarded to the winning party, an amount that you would be responsible for paying. What is your liability exposure?

What Is The Right Amount of Umbrella Liability Coverage?

Review the following factors to determine the right amount of umbrella liability coverage you require. By considering an umbrella policy, you can protect yourself against the possibility of a devastating financial loss from these unforeseen events:

Do You Know Your Liability Risk?

  • Do you have a pool or hot tub?
  • Do you have a trampoline?
  • Do you have a cottage?
  • Do you own rental properties?
  • Do you own a boat, snowmobile, ATV?
  • Do you have children?
  • Do you carpool?
  • Do you entertain?
  • Do you have a pet?
  • Are you active on social media?
  • Do you volunteer?
  • Do you sit on a not-for-profit board of directors?
  • Do you coach your kid’s sports teams?
  • Do you rent cars?
  • Do you travel outside of Canada?


With liability lawsuits on the rise and attorneys seeking larger rewards, the risk is very real, but Umbrella Insurance is affordable. Should you consider adding a personal umbrella policy to your insurance portfolio?

To download our assessment tool and calculate your liability risk, visit:


– Sylvie Forget-Swim is a partner with Assurances Palladium Insurance

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