What is Personal Umbrella Coverage and Why
Should I Have It?
A
Personal Umbrella policy provides additional insurance
liability protection in million dollar increments. The
policy protects you against claims that exceed the
liability limits of your home, auto, boat, and other
personal policies. An Umbrella also provides coverage for losses that
are not covered under the primary personal policies. Some losses
that an Umbrella could include are:
Here are
some actual cases or uses for an Umbrella.
-
A
neighbor’s
child climbs a tree on your property, falls, and is
seriously injured. The claim settlement goes well beyond
the $300,000 liability limit of you homeowner policy.
-
Your family dog
bites a visitor to your home. The injured person must
undergo a series of plastic surgeries as a result of the
bite. A jury awards $500,000 to the victim.
-
You are sued
for slander through a misunderstanding. Chances are
your primary policy does not offer protection or legal
defense for this type of allegation.
-
You are mowing
the grass and a rock shoots out from under your mower.
It hits a child in the eye causing extensive damage and
blindness.
-
You are
involved in a car accident. You cause injury to someone.
That person becomes paralyzed as a result of the accident.
You are sued for $1,000,000 to cover the hospital
stay, therapy, equipment, mental injury, and the quality
of life the victim can no longer enjoy.
-
You cause an
accident and the injured victim is a doctor. He has
extensive injuries to his arm and requires a lot of physical therapy
to restore his movement in it. This requires him to be off of work.
You are then sued for his injuries, therapy, and income lost due
to inability to work.
**The
above definitions are general definitions. Please refer to
the actual insurance policy for detailed descriptions of
coverages, limitations, or exclusions. We will be happy to
answer any questions upon request.
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