Personal Umbrella Insurance

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Personal Umbrella

In the world of insurance, an important coverage that many do not understand is umbrella insurance. With many forms of insurance, you have it because the law or a business requires it. For instance, to obtain a mortgage, homeowners insurance is required, or to drive a car you must have automobile insurance. This is not the case with a personal umbrella policy so, what is it? Why do you need it? How can it protect you? In the day and age we live in your normal insurance might not be enough to protect your family in the case of an accident.

What is it?

Umbrella insurance is referred to as an extra liability or excess liability policy and goes beyond the limits of a homeowners or auto policy. It provides as additional layer of security to those who are at risk of being sued for damages to other people's property or injuries caused to others in an accident. It also goes beyond normal coverage and supplies protection against libel, slander and invasion of privacy.

How does it work?

If a policyholder is sued for damages that exceed the liability limits of car insurance, homeowners insurance, or other coverage types, an umbrella policy helps pay what they owe. In other words, if the dollar limit of the original policy is exhausted, the umbrella policy acts as a fail-safe, so the insured does not have to dip into savings and other assets.

Why do you need one?

In one word? Protection. You have worked hard for the things you own but one accident can threaten to take all of this away. Lawsuits are having higher and higher payouts that can max out your primary insurance limits, leaving the remaining balance to be paid by you. A Personal Umbrella Policy will substantially increase your overall Liability coverage in case of any lawsuits or judgements. If an accident happens, you want to make sure that you, your family, and your financial assets are taken care of.

We have a unique opportunity to offer you a Personal Umbrella Excess Policy from RLI Insurance. Many will know them for their large Public Auto and Charter Bus policies but they also have some other unique programs including Personal Umbrella and Home Business. They offer exceptional coverage to protect what you have spent your life building. With up to $5 million dollar limits that can cover auto, home, boat and rental properties we have you covered when the unimaginable happens.

We can offer coverage in AZ, CA, CO, OR, NV, UT and WA. We would love to see what we can do for you. Please give us a call or click the Quick Quote button.

Do you have questions about Personal Umbrella?

Contact an insurance agent at D. W. Ferguson & Associates today to answer any questions about Personal Umbrella or for a free review and insurance quote for Personal Umbrella. And don't forget, as an independent insurance agency, we represent several top rated insurance companies. We have the flexibility to help you find coverage at competitive premiums for business, home, auto, and more.