Umbrella insurance is extra liability protection above the limits of your auto, homeowners, rental homes and boat insurance policies. It is designed to help protect you from major claims and lawsuits that could have a major effect on your assets and future. Some of the coverage provided under the policy are: injuries, damage to property, certain lawsuits, bodily injuries caused by an at-fault auto accident, harm caused by a dog, an in-home guest injury, etc.
. Personal and commercial umbrellas are called secondary forms of insurance that require a primary policy – a homeowners’, auto, business or boat policy.
. The major questions to ask in determining how much umbrella coverage to buy are: how much coverage does my primary personal/business policy provide, what are my total personal/business assets (real estate, collections, cars, business property, potential future income etc.); and what are my potential risks? Discussion about your answers and consultation with us are critical factors in arriving at your decision.
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The above is meant as general information only to help you understand various insurance coverages. For detailed explanations and contract information. we encourage you to contact one of our professional counselors. Thank you.