2023 Liability Estimator TA Associates GPEL

Estimate your liability.

Take this short quiz to see a preliminary estimate of the liability coverage amount that may be appropriate for you.

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Results provided by our Liability Coverage Estimator are intended to be used only as a guide. Speak with a qualified insurance broker about your unique risk factors before deciding on the optimal liability coverage amount for you.

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How many automobiles do you own?

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Driving a high profile automobile can bring increased liability risk. Policy limits should reflect the additional risk, or you might be paying more out of pocket expenses in the event of a loss.

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How many luxury, exotic, and/or high performance automobiles do you own?

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How many recreational vehicles do you own?

Recreational vehicles usually require specialized coverage to properly protect you from financial loss and significant liability exposure.

(ATVs, boats, motorcycles, golf carts, etc.)

Low

Moderate

High

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Does anyone in your household have a high public profile?

People in the public eye have both the blessing and the burden of a complex lifestyle. It’s important to have the proper coverage in place to protect what you’ve earned.

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How many homes do you own?

Unoccupied homes present a unique risk and may attract uninvited visitors. As the property owner you have an increased risk of liability, even if an injured party wasn’t invited on the property.

Yes

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Do you own any homes outside of the United States?

Insurance contracts need to conform to both US and international laws, and are often written in different languages, adding another layer of complexity.

Yes

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Do you have a trampoline, pond, or pool on your property?

Everyday activities surrounding these items can create risks and potential lawsuits. It’s important to understand your liability exposures and take steps to protect yourself.

Yes

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Do you have any youthful operators?

Having youthful operators can bring increased liability risk. Policy limits should reflect the additional risk, or you might be paying more out of pocket expenses in the event of a loss.

(25 or under)

Never

Annually

Quarterly

Monthly

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What is the frequency with which you host parties/events?

Social host liability laws vary widely from state to state, but most of these laws offer an injured person, such as the victim of a drunk driver, a method to sue the person who served the alcohol.

1-2

3-4

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How many full time staff do you have?

If you employ or plan to employ caretakers, nannies, or other domestic staff, it’s important to be aware of your legal responsibilities and the possible need for Employment Practices Liability Insurance.

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On how many not-for- profit boards do you sit?

Although public companies are most often the targets of shareholder claims and class-action lawsuits, not-for-profit and private entities are not immune from litigation.

Under $1M

$1M - $2.9M

$3M - $4.9M

$5M - $9.9M

Over $25M

Under $25M

Under $20M

Under $15M

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What is your estimated net worth?

Multimillion dollar lawsuits are more common than ever. Average personal injury judgments have exceeded $1 million, and settlements can affect an individual’s savings, assets, and even future earnings.

(financial + property)

Yes

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Is your annual income likely to exceed $1 million next year?

Affluent individuals, families,and family offices may find themselves target of expensive, high-stake liability lawsuits.

1-5

6-15

16-25

25+

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How many more years do you intend to work?

With retirement often comes a change in residence. This is a good time to let your insurance provider know where you plan to spend your time.

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$1 - $2 million

This preliminary recommendation is based on your responses to questions about the most common personal liability risk factors affecting successful individuals and families. This estimate is not meant as a substitute for advice from a qualified insurance professional.