Why should I have a personal umbrella insurance policy?

A personal umbrella insurance policy can be an important addition to your overall coverage for several reasons. Here’s why you might want to consider it:

1. Extra Liability Protection: Umbrella insurance provides additional liability coverage beyond the limits of your existing auto, homeowners, or renters insurance policies. If you were to cause an accident or damage someone else’s property, and the costs exceed your primary insurance limits, an umbrella policy can help cover the difference.

2. Protection Against Large Lawsuits: If you’re sued for damages due to an accident, injury, or even defamation, legal fees and settlements can be very expensive. Umbrella insurance helps protect your assets from being depleted by covering legal costs, judgments, and settlements that go beyond your regular policy’s coverage limits.

3. Peace of Mind: It offers peace of mind knowing you have an extra layer of financial protection in case something unexpected happens. Accidents and lawsuits can happen at any time, and having umbrella coverage can help ensure that you won’t be financially ruined by something beyond your control.

4. Coverage for Unforeseen Incidents: Umbrella policies often cover situations that might not be covered by your regular insurance. For example, they can protect against liability from incidents like slander, libel, or false arrest, which your standard homeowner or auto policy might not cover.

5. Affordable Protection: While umbrella insurance provides significant coverage, it is often surprisingly affordable, especially when compared to the potential costs it can cover. It usually costs just a few hundred dollars a year for several million dollars in coverage.

6. Worldwide Coverage: Some umbrella policies provide coverage outside of your home country, which can be helpful if you travel internationally and encounter a legal issue or accident.

7. Safeguard Your Assets: If you have significant savings, investments, or property, an umbrella policy can help protect those assets from being seized to cover liability costs if you’re found responsible for an accident or injury.

A personal umbrella insurance offers an affordable way to protect your financial future from large, unexpected claims or lawsuits.  If you have any questions or would like a quote for umbrella coverage contact us today at (425)212-3505.