Personal Umbrella Policy

Like a real Umbrella a Personal Umbrealla Insurance policy offers you protection when it rains! A Personal Umbrella Policy extends the liability coverage of your homeowners and auto policy, protecting your family and assets from in the case of a lawsuit.

Do You Need an Umbrella? Here Are Some Things to Consider

Standard auto, homeowner’s and boat insurance policies cover liability a person may have for injuries or property damage suffered by someone else. Insurance companies design them to cover accidents for which the insured person may owe tens or even hundreds of thousands of dollars. However, sometimes the person may be responsible for an accident so catastrophic that the damages are $1,000,000 or more. To cover financially devastating events like these, insurance companies offer personal umbrella policies. These policies provide additional protection when an accident uses up the amounts of insurance provided by the other policies. They may also cover some types of losses these other policies do not cover.

There is not a “standard” umbrella policy; each company’s offering will be different. Therefore, it helps to have a checklist of considerations when evaluating a policy.

Call or Email the Salem Oak Agency to discover if a Personal Umbrella Policy is right for you!