Umbrella Insurance
Fill the Gaps in Your Coverage with Umbrella Insurance
Is your insurance coverage enough? Often, policyholders will secure their most basic needs — their cars, homes, and property — assuming everything they need is protected. However, the worst-case scenario is not the ideal time to test that assuredness. And in events where typical coverage isn’t as far-reaching as you may think, you could be looking at a significant financial hit. Don’t be caught off guard. Learn more about a personal umbrella policy and how it can help fill the gaps your other insurance policies don’t quite reach.
What is Umbrella Insurance?
Personal umbrella policies provide additional coverage in areas that aren’t covered by traditional auto, homeowners, and renters policies. Usually used to supplement existing coverages, umbrella insurance can cover personal liability claims not covered by your other insurance policies. It may also cover liability and legal defense costs exceeding the amount your primary policies pay and can also cover situations in which the policyholder is held responsible for bodily injury, property damage, or personal injury.
Some situations in which an umbrella policy could be useful include:
- If you own a car and are involved in an accident, you could be held responsible for any resulting medical bills or property damage. Umbrella insurance could cover the payments where your auto policy would not.
- The walkway in front of your house is cracked. Before you can fix it, a guest trips, falls, and suffers a broken bone as a result. As the property owner, you could be held liable for that person’s medical bills. An umbrella policy may help cover your risk.
Will Umbrella Insurance Cover Everything?
While umbrella insurance is helpful in extending your coverage and protecting you from unforeseen liability, it’s not a catch-all and not a stand-in for your traditional policies. For example, umbrella insurance will not cover damage to your home or vehicle — including in cases of severe weather — nor will it safeguard you from punitive damages because of reckless behavior.
Your personal umbrella policy can, however, shield you from liabilities such as libel, slander, and invasion of privacy. It can also safeguard your assets and any future earnings in the event of a lawsuit, depending on the amount of coverage you select. The best way to be sure of the policy’s effectiveness is to speak directly with your insurance agent and discuss what exactly you want from your coverage.
Supplement your existing coverage today — your A1 Insurance agent is standing by! For more information or to speak with an agent, call (708) 301-0066.