With all the different types of insurance out there, it’s easy to be confused about what might or might not be covered. Even if you think that you have the right amount of coverage with all your policies, an umbrella policy can save you in the event of an unforeseen lawsuit. A personal umbrella policy is a kind of catchall policy designed to protect you (and your assets) when and if your other policies simply can’t cut it. Some instances where personal umbrella insurance will come in handy are:
- Bodily injury or liability – covers the medical bills and/or liability claims due to damages of another person’s body. It will cover damages that you are at fault for, such as if your dog bites someone, or anything that happens on your property, such as if a neighbor’s child get hurt when playing in your yard.
- Property damage liability – covers the damage caused to another person’s tangible property. This can include property damages from a car accident in which you are at fault, or any accidental damages your child causes to school property.
- Owners of rental units – can help cover the costs of liability that you may face as a landlord, such as if someone falls and hurts themselves on you property.
Umbrella insurance also covers much more, such as instances of slander and libel, false imprisonment and detention, malicious prosecution, mental distress and anguish. Coverage limits starts at $1 million and can go up to $10 million if you qualify.
Think of a personal umbrella policy as a helpful chameleon designed to protect you where other policies might not. The best way to understand what this will and will not cover is to speak with a professional agent. For more information or to get a quote in Pleasant Hill, contact Lou Aggetta Insurance.