Umbrella Insurance Policy to Protect your Net Worth
Life happens. Sometimes you might need an excess liability to protect you from liability lawsuits. Umbrella insurance provides extra limits to your primary liability personal or business insurance policy. It is important to have an Umbrella insurance to protect your current assets and future earnings from judgments. In order to have a proper coverage, your Umbrella limits should be equal to your Net Worth. We offer Umbrella Insurance coverage from $1 Million to $10 Million coverage limits. We also offer higher limits depending on risk characteristics.
Umbrella Insurance adds extra liability coverage on top of you Homeowners and Auto Insurance liability limits. An umbrella coverage comes into effect when liability limits from your homeowners or auto insurance policy have been reached.
Personal umbrella policy usually provides greater liability coverage for situations covered by your underlying policy. Also it gives protection for other risks. For example, umbrella insurance can help pay for a slander judgment against you, when your homeowners liability coverage, even if you have excess liability coverage, probably will not.
What does Umbrella Insurance Cover?
It protects the members of your household and your business against lawsuits. Umbrella insurance also provides protection for personal injury to others and other’s property damages, claims involving landlord liability or false imprisonment. It also covers the legal costs in addition to your liability limits.
What doesn’t cover Umbrella Insurance?
Umbrella Insurance does not cover your own injuries and property damages. Damages to your personal belongings , intentional or criminal acts will be excluded for Umbrella policy.
When do you need Umbrella Insurance policy?
When you own a property, have significant savings or you are a landlord, you need an Umbrella insurance. Hosting many parties at your home, owning a pool, dogs, trampoline or guns or if you are a public figure, Umbrella policy is crucial to have. If you participate in sports that can injure others or you are a coach, Umbrella insurance policy is essential.