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The Importance of Protecting Your Assets

From having excellent malpractice coverage to remaining compliant with strict regulations, CAP members are well-versed in protecting themselves from the potential liabilities associated with practicing medicine. However, even outside of the clinical setting, physicians still run the risk of being sued because of the common perception that they have “deep pockets.”

If you are ever found liable for unfortunate accidents resulting in damages that exceed the limits of your existing personal insurance policies, you could face catastrophic financial loss. Physicians should consider purchasing a personal umbrella insurance policy, an often overlooked yet very important and affordable piece of coverage that supplements the basic liability coverages provided by your home and auto insurance.

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Chances are you and your family members like to engage in regular activities and hobbies where accidents can occur. If you frequently entertain guests, someone could injure himself or herself on your property. Your dog could bite a passerby during your daily walk. You could be sued for slander or defamation if your family members like to post online reviews. Or, if you enjoy playing sports, you could end up accidentally hurting another player. 

Most of us do not like to think about the “what ifs,” but bad luck can strike at any time and inadequate liability insurance coverage can prove to be financially devastating.

You may think that your current homeowners, automobile, and other property policies already offer enough protection. However, without a personal umbrella liability policy, any claim that is greater than your current coverage limits could wreak havoc on your financial assets or negatively impact your future earnings if you do not have enough to pay the balance of the damages. 

While significant assets do require more coverage, the fact is, a personal umbrella policy can protect both individuals with amassed wealth and those who are building their portfolio.

As a CAP member, you can purchase a personal umbrella policy that provides $3 million in excess liability coverage for just $675 per year through CAP Physicians Insurance Agency (CAP Agency).* Additional limits are available for purchase for up to $10 million in excess liability coverage. CAP’s personal umbrella coverage also includes, at no additional cost, $1 million dollars in uninsured and underinsured motorist coverage. No underwriting is required.

To enroll, please visit: If you would like to learn more, please contact CAP Agency at or at 800-819-0061.   


*Existing policies must meet the minimum requirements to be eligible to purchase an umbrella policy.

Underlying primary insurance requirements apply. Annual premiums are prorated depending on enrollment date. Policy will renew on January 1 of the next calendar year. Premiums are subject to rate increases.