News & Insights

Fairport Minding Your Business Article

Minding Your Business
Articles for Entrepreneurs & Those Who Serve Them

The Importance of Personal Umbrella Policies

Savvy business owners regularly assess their company’s potential liabilities and risks. Unfortunately those same savvy business owners are largely unaware and rarely address a key component of their individual wealth protection plan – their personal umbrella policy.

Ask yourself, do you have enough personal liability insurance to protect you and your family from larger claims and lawsuits, if:

  • Your child causes a serious car accident.
  • Someone is hurt at your home and claims negligence.
  • Your dog attacks a stranger on your property.
  • An unfortunate incident that is a result of your less-than-best judgement!

This month’s brief article provides a general rule of thumb of how much personal umbrella coverage you should consider obtaining. Contact us for an audit of your existing coverage and to learn if you have any insurance blind spots.

For more information on how Fairport inspires business owners and their families, contact:

Andrew R. Connors, CFP®, CEPA
Business Owner Leader
Partner, Fairport LLC

(216) 431-2754


Fairport is registered with HighTower Securities, LLC, member FINRA and SIPC, and with HighTower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through HighTower Securities, LLC; advisory services are offered through HighTower Advisors, LLC.

This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.

This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of HighTower Advisors, LLC, or any of its affiliates.