Call Us 800-317-6122 ☰ ˟
Logo
Call Us 800-317-6122
  • HOME
  • GET A QUOTE
    • Personal LinesImage of right arrow
      • Homeowners
      • Automobile
      • Umbrella
      • Motorcycle
      • Recreational Vehicle
      • Rental Property
      • Specialty Automobile
      • Flood
    • Commercial InsuranceImage of right arrow
      • General Liability
      • Commercial Auto
      • Workers Compensation
      • Bonds
      • Commercial Property
      • Builder’s Risk
      • Business Owners Policy
    • Life & Health InsuranceImage of right arrow
      • Disability Insurance
      • Life Insurance Home
      • Health Insurance Home
      • Long-Term Care Insurance
      • Group Health
  • RESOURCES
    • Refer a Friend
    • Client Services
    • Insurance Glossary
    • Make a Payment
    • Make A Claim
  • ABOUT US
    • About Us
    • Our Locations
    • Privacy Policy
  • CONTACT
  • OUR AGENCIES
    • Deming Insurance Agency
    • Prindle Insurance
    • Raynard & Peirce Insurance
    • Simsbury Insurance Center
    • Tangarone & Prelli Insurance
    • WJ Irish Insurance
Home > Blog > The Advantage of Personal Umbrella Insurance
THURSDAY, FEBRUARY 24, 2022

The Advantage of Personal Umbrella Insurance

Have you ever considered what the cost would be if someone were to sue you after they get hurt in your home? What if they demand compensation because you accidently damaged their property? Most people don’t like to think about the financial ruin that might be brought by such a challenge. 

Under your homeowners insurance, you might have liability insurance available to help you cover the costs of a lawsuit. But, even this coverage is not unlimited and there are times when a claim might exceed your liability limits. It’s at this point that a benefit known as personal umbrella coverage can step in to provide lifesaving support. Here’s how it works. 

The Basics of Personal Umbrella Liability Policies   
If you are found to be legally responsible for injuring someone or damaging their property, then you will have to pay for their losses. Without a personal umbrella liability insurance policy, any losses beyond the limits of your standard liability insurance coverage will come out of your own pocket.  

A personal umbrella liability policy provides an extra layer of insurance coverage over your standard liability policy limits. It protects your personal assets by kicking in when your standard liability coverage is exhausted. Usually, you will find that one umbrella plan can apply to multiple personal policies at once, including homeowners, auto, boat, motorcycle and renters policies.    Man holding hologram umbrella

Who Needs an Umbrella Liability Policy?   
High-risk activities or hobbies—having a teen driver at home, owning a swimming pool, entertaining frequently—can increase your odds of being sued if someone gets hurt as a result of the circumstances. It is a good idea to supplement your insurance with a personal umbrella policy under the circumstances.  

How Much Coverage Do I Need?  
You do not want to be financially ruined by an accident lawsuit brought by someone who suffered harm on your watch. Therefore, you’ll want to consider your full net worth in order to adequately protect it with matching liability coverage.   

This is particularly true for high-value homeowners, who have more value wrapped up in their property than others. A lawsuit could be devastating to their security, and even the liability coverage within their homeowners plans might not be adequate. The added benefit of umbrella coverage—which can often provide extra coverage starting at a $1 million minimum—is that it will provide a high amount of additional protection that you might not even realize you need.   

How Much Does Coverage Cost?   
The good thing about umbrella coverage is that it generally is very affordable, particularly when you weigh the amount of additional benefits you will receive. Many policies only cost a few hundred dollars per year, which is comparable to, if not less than, the standard premium on your home or auto insurance. Get the additional protection you need with a personal umbrella plan today. 
Posted 12:24 PM

Tags: umbrella insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020

  • insurance(8)
  • coverage(7)
  • auto(4)
  • auto insurance(3)
  • bop(3)
  • car(3)
  • liability(2)
  • general liability insurance(2)
  • umbrella insurance(2)
  • business(2)
  • policy(2)
  • commercial(2)
  • workers compensation(1)
  • general(1)
  • homeowners(1)
  • classic auto insurance(1)
  • vehicle(1)
  • flood insurance(1)
  • antique(1)
  • owners(1)
  • rates(1)
  • classic(1)
  • damage(1)
  • commercial auto(1)
  • collision(1)
  • umbrella(1)
  • business owners policy(1)
  • credit(1)
  • high value home insurance(1)
  • home insurance(1)
  • travel insurance(1)
  • classic car insurance(1)
  • personal(1)
  • commercial auto insurance(1)
  • score(1)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Home| Get A Quote| Customer Service| Blog| About Us| Contact
Main Office
1760 Ellington Road | South Windsor, CT 06074
P: 800-317-6122 | info@newberryagency.com
Social Social Social
Logo

Powered by Insurance Website Builder