Personal Umbrella Insurance: When Standard Coverages Won’t Cut It
The simple truth is that standard coverages might not be enough to protect you and your family against a large liability claim. A single random event could exhaust the payouts of standard policies—especially if you were sued and judged legally liable for someone else’s losses. What happens then?
You pay the rest.
When Do I Need Personal Umbrella Insurance?
If a guest in your home suffered an injury and sued for damages, a legal award could easily exceed the coverage provided by standard homeowners insurance. The same goes for standard car insurance if another driver, other passengers, or even your own passengers were injured in a wreck wherein you were driving. The same holds true for watercraft insurance, too.
What Policies Can Personal Umbrella Insurance Supplement?
Personal umbrella insurance can serve as a supplement to all of these: