What is the purpose of a personal umbrella?
A. It protects you from the rain
B. It provides you a higher level of liability protection through higher limits and broader coverage
Well, technically both answers are right, but for the purpose of this Blog article, we’re going to go with answer B!
A personal umbrella policy can be purchased in addition to your personal automobile and property insurance policies. As mentioned above, the umbrella policy provides you with a higher level of liability limits as well as broader coverage.
There are many different features to a personal umbrella policy, and the coverage may vary slightly between Insurance Companies. For the purpose of this article, we will go over some of the most common ones:
Most individuals that have personal automobile insurance and property insurance in place can qualify for a personal umbrella policy. There are also commercial umbrella policies available. As with most insurance products, there are certain risks that are not eligible for the coverage for specific reasons. Some of the most common ones are:
A personal umbrella policy can be set up by completing a simple application, and in some cases, it can be added directly to your existing property insurance policy. For more information or to obtain a quote, please do not hesitate to contact our Office and we would be more than happy to assist you!
The Costen Insurance Team