If you are properly insured, the likelihood that you could be sued into your savings is actually rather slim. Regardless, you may want to consider an umbrella insurance policy to make sure that you’ll never have to wish you had one.
Umbrella insurance is a type of personal liability insurance that helps keep your head dry when a claim involving one of your other insurance carriers (homeowner’s, auto, etc.) starts to spill past its limits. In other words, if you’re in a situation where a claim against you has maxed out your coverage, umbrella insurance can kick in to provide the additional coverage you need.
There’s a lot that umbrella insurance can do, which makes it a great type of insurance to have to back up many of your other policies. That said, there’s also a lot that umbrella insurance can’t do.
Here are a few things that umbrella insurance is unlikely to cover:
- Damage to Your Property: As a liability insurance, umbrella policies can only kick in when you’re liable for damaging someone else’s property.
- Damage/Injury Deliberately Caused by a Covered Member: If you purposely harmed someone on your property by tripping them or throwing them through a window, then your umbrella insurer is unlikely to cover you – and will likely cancel your policy.
- Liability Incurred as a Result of Business Activities: Umbrella insurance is intended to protect you for your personal affairs. Business liability insurance can protect your liability from incidents that occur in your professional life.
- Contractual Liability: If you signed a legal agreement agreeing to assume liability for something, your umbrella insurance probably won’t cover you.
Do You Need Help Finding a Policy?
If you’re searching for umbrella insurance, reach out to Insurance Specialists, Inc. for the support your need. We can help you find a policy that provides the kind of coverage you need to feel more secure every day.
Get in touch with us online or call Insurance Specialists, Inc. at (888) 451-0883 today.