Personal Umbrella Insurance Policy
A Personal Umbrella Liability Policy provides extra liability coverage for your home, auto and other personal insurance policies. If your liability limits are exhausted for your primary policies, the Umbrella will provide extra coverage in the amount of $1 million up to $10 million. We highly recommend everyone has a personal umbrella liability policy, but you should definitely consider this policy if:
You Own A Home
Homeowner’s insurance is a necessary protection for anyone with a home. But certain events can cause a homeowner to be liable for damages well beyond what a typical policy will cover. Pools can be considered attractive nuisances that lead to injury or death where the homeowner can be found liable. General injuries on your property can also be sources of extreme financial liability where an umbrella policy can prevent you from owing money beyond what your homeowner policy can pay out.
You Have Teenage Drivers
The damages caused by any auto accident can be extreme. Most teen drivers are insured as part of the parents’ auto insurance policy, leaving you responsible for damages associated with an accident where they’re liable. Umbrella insurance policies can protect you from being personally responsible for costs past the maximum payout of your insurance if your teen driver causes major damage.
You Own A Boat, RV Or Motorcycle
An umbrella policy helps protect you during any vehicular accident. However, if you own a boat, RV, motorcycle, ATV or other recreational vehicles, costs associated with accidents can be far higher than with standard automobiles. Umbrella insurance mitigate these high costs if they happen.
You Have a Dog
Injuries caused by a dog are the responsibility of the owner. Even a small dog bite can cause the owner to have liability for damages based on medical expenses, lost wages and beyond.
Personal umbrella insurance policies offer a lot of protection at a relatively low cost – as these policies require you to have existing insurance policies already! Fortunately, you’re often eligible for a multi-policy discount when you consider a home and auto insurance policy with personal umbrella insurance – adding to your savings while increasing your protection!