Is It Time to Consider Umbrella Policy Coverage?

Accidents, injuries, and lawsuits are common occurrences that can have serious financial repercussions. This is why it is important to Consider Umbrella Policy Coverage.

Whether you’re a business owner, an independent contractor or just an individual, you may want to consider the extra protection of an umbrella policy.

An umbrella policy offers additional coverage beyond the limits of your homeowners and auto insurance policies. From providing extra protection against slips and falls to further coverage in a car accident, an umbrella policy can provide substantial financial protection.

But what does an umbrella policy actually cover? And how much does it cost?

Let’s take a closer look.

What Is Personal Umbrella Insurance?

As the name implies, a personal umbrella policy provides an additional layer of protection beyond the existing coverage limits of your homeowners and auto insurance policies.

An umbrella policy, for instance, can cover legal costs above other policies when you are sued for damages resulting from an accident.

Umbrella policies also provide liability protection in certain situations that your other insurance policies, such as libel or slander, may not cover.

When purchasing an umbrella policy, it’s essential to understand the exclusions and limitations of the coverage to ensure that you get the appropriate protection for your needs.

By understanding the limitations of your homeowners and auto insurance policies, you can determine if an umbrella policy is right for you.

When Does Personal Umbrella Insurance Apply?

Umbrella policies are typically triggered when a claim exceeds the limits of your other insurance policies. For example, if you are sued for $500 thousand, and the limit on your homeowner’s policy is $300 thousand, an umbrella policy could provide the additional coverage needed to protect your assets.

Depending on the details of your policy, it may also cover the following:

• Bodily injury liability
• Property damage liability
• Libel or slander liability
• Personal injury liability

And more!

Umbrella policies may also provide coverage for items your other policies may not, such as false arrest or malicious prosecution.

Take Precautions Against the Unexpected

Umbrella policies offer an extra layer of protection that can help protect you from the unexpected.

At Northeast-MetroWest Insurance Agency, we recommend umbrella insurance policies for our clients looking to protect their assets and have additional peace of mind.

To determine if an umbrella policy is right for you, request a personal umbrella insurance quote today. We’ll help you ensure you have the right coverage to protect yourself from any potential liabilities arising from an accident or unexpected event.

Together, we can create a customized plan that fits your needs and provides you with the coverage you and your family deserve.