Personal Umbrella Insurance

Since the whole point of personal umbrella insurance is to protect your assets from a risk, it makes sense to buy it if you have assets to protect.
There is no shortage of unforeseen circumstances that could impose a real risk to your family’s assets and financial future.
Personal umbrella coverage is critical coverage, designed to help protect you from life’s unexpected events.

Also umbrella coverage can step in when any underlying policy’s coverage limit runs out like auto, homeowners, landlord, motorcycle and yacht etc.

A personal umbrella policy can help you protect you in situations, such as:

• Bodily injury liability
• Landlord liability
• Slander and libel (Personal injury)
• Property damage liability (damage or loss you cause to another party’s property)

Here is some examples of use of personal umbrella coverage

You’re at fault for an auto accident.

If you have an underlying auto policy that covers $250,000 in bodily injury and $1 million personal umbrella policy. After big auto accident, you’re found liable for a $1 million judgement.
Your underlying coverage “runs out” at $250,000 -meaning you’re potentially on the hook for the remainder.
That’s where your personal umbrella coverage kicks in, picking up where your underlying a auto policy stops and covering the remaining $750,000.

Your child’s friend visits and injured him or her.

Kid slips on your deck while he or she plays and breaks his or her wrist. Hospital and doctor visits can be covered under your underlying homeowners policy. But the limit is “runs out” from coverage limit, umbrella coverage will steps in to cover the remaining cost.

What umbrella insurance costs

The cost is depends on many factors like number of drivers, cars and driving records etc. where you live and how good a risk the insurance company thinks you are.
But roughly the cost of $1mil /yr. is at around $200 and another $100 for each additional million.

For more information or quote, feel free to contact us anytime.