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Concierge Insurance. From Start to Claim.
An umbrella policy provides additional layers of liability protection. If the liability limits are exhausted on your home, auto, or other underlying insurance policy, your umbrella insurance policy takes over and provides you with additional protection. The cost is minimal compared to the comfort of knowing you're covered.
A personal umbrella policy extends the bodily injury and personal damage liability limits of your home or auto policies.
Consider the following scenario: Your home insurance provides $300,000 of liability coverage. A serious accident happens on your property, and you're sued for $1.3 million resulting in a judgment against you.Your insurance pays up to $300,000 for a covered accident, but you hold responsibility for paying the remaining $1 million.
If you had $1 million of coverage under an umbrella insurance policy, you'd be covered with nothing out of your pocket (other than your monthly premium). Instead, without the additional protection from a personal umbrella policy, you're looking at the possibility of needing to liquidate your assets to pay the remaining $1 million in this example.Talk to an agent to find out what the best level of coverage is for your situation.
Imagine what would happen if your dog was to bite a neighbor's child, or if there was an accident on your rental property. What would happen if a fire in your condo spread to other units? If any of these things happened to you, there's a good chance your current liability limits wouldn't be adequate to protect your assets, or your future earnings.
