One of the most important insurance policies you can buy is the personal umbrella policy, but many people are unaware they need one.
Consider that lawsuits happen every day and if you were sued, would you have enough money to cover your attorney’s fees and possible judgments?
Most homeowner’s and automobile policies offer protections to cover legal liability, but is it enough? If you are concerned about your ability to cover all possible expenses of a lawsuit, you should consider purchasing an umbrella policy.
This insurance will cover you if you cause bodily injury, property damage, or personal injury to another party.
Umbrella policies also offer protections that traditional homeowner’s or auto policies do not, including:
- False arrest
- Libel or slander
- Invasion of privacy
- Wrongful entry
- Eviction
While an umbrella policy offers additional protection, not all claims are covered. Most umbrella policies do not cover punitive damages.
Additionally, some umbrella policies are only available to policyholders who carry both their homeowner’s and auto insurance policies through the same insurer.
Affordable premiums
Since umbrella policies are tapped only after the liability limits on your homeowner’s or auto policies are exceeded, they are usually inexpensive. The premium on a policy with a million-dollar limit is usually $300 per year.
You should consider purchasing a personal umbrella policy if you have certain characteristics or engage in certain activities, including the following:
- Your total assets exceed your underlying liability limits.
- You are financially responsible for the actions of a young, inexperienced driver.
- You live in an exclusive and affluent neighborhood.
- You have a high-profile career or high income.
- You frequently host guests on your property.
- Your residence includes a swimming pool.
- You own waterfront property, a farm, or a ranch.
- You own watercraft, aircraft, or off-road vehicles.
- You own numerous rental properties.
- You engage in extensive international travel for pleasure.
Get a free Umbrella Insurance quote online today!
Are you looking for Umbrella insurance in Santa Ana, California? We are a top-rated local insurance independent agent protecting all aspects of your life, from your business to your autos and home, we have you covered! The benefit of choosing an independent agent like us means options. We have relationships with many top-rated carriers to give you the Umbrella insurance coverage you need that fits your budget. Don’t wait, call us today at (714) 285-9990 or visit our Quotes Online and start saving money.