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Personal Liability Umbrella Insurance

Sometimes in life, the unexpected happens. These are the moments when you and your family need a little additional protection beyond what your existing home or auto insurance policies provide. This is where a personal liability umbrella policy may come in handy.

Traditional insurance doesn’t offer blanket coverage for all liability contingencies. Umbrella policies, however, can keep you and your family covered when many of them occur. These are a few of the things umbrella insurance covers to help protect your family’s financial interests.

Added Dollar Amount Liability Coverage

Home and auto insurance both offer liability insurance coverage. However, there are dollar limits on the coverage amount available on typical policies. Umbrella liability coverage goes beyond what your home and auto insurance provides in case court awards or settlements exceed your existing liability coverage.

Legal Defense Coverage

Attorneys’ fees add up fast. Without defense coverage, you could find yourself responsible for the full dollar amount. Defense coverage helps not only pay the fees for your attorney but other expenses related to your legal case.

Personal Injury Coverage

This type of insurance coverage applies to a wide range of allegations including defamation of character, libel, slander, malicious prosecution, mental anguish, false arrest, wrongful eviction, and more.

Protection for Landlords

Landlords face a few additional risks when it comes to liabilities. Umbrella coverage helps to insulate landlords from some of those risks.

Do You Need an Umbrella Insurance Policy?

The world today has become increasingly litigious. Juries make awards based on the severity of the injuries and not according to your means to pay the award. Without sufficient insurance coverage, your family is on the hook for the full award amount.

Unless you have stockpiles of money floating around untouched, the odds are good that you and your family need the security that umbrella insurance policies provide. Before you make any decisions, however, it’s important to discuss your current situation and insurance needs with a local insurance agent to help you make this important decision for yourself and for your family’s future.

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