As you accumulate assets and your net worth grows, this is the time to seriously consider a Personal Umbrella Policy. A personal umbrella policy is an added protection beyond your underlying policies liability, be it your home, auto, boating, or motorcycle policies in the event you are responsible for property damage or bodily injury to someone else. Umbrella Policies come in increments of a million dollars. For most families, an umbrella of one or two million is adequate.
For example, if you were in a car accident and someone seriously is injured, a personal umbrella policy will cover you for liability claims and damages in excess of the liability limits provided by your auto policy.
Other examples a Personal Umbrella policy could be applied to include, but are not limited to:
- Accidental injuries on your property,
- Accidents involving your boat, ATV, or other recreational vehicles,
- Defense fees and other legal costs,
- Personal Injury Coverage for claims of libel, slander, and more.
We will be happy to review your insurance needs and together we will determine what is best for you.