“Umbrella insurance” is a generic term. You may know it by another name.
Four common names for umbrella insurance are:
- Excess Liability Policy
- Personal Liability Insurance
- Personal Liability Umbrella Insurance
- Personal Umbrella Policy
Umbrella insurance is a must for homeowners.
Umbrella insurance kicks in where your regular homeowners insurance and auto insurance coverage caps out. It pays cash to protect you from the injuries you cause to others. It also protects against excessive property damage; and, from lawsuits filed against you for injury or death which can easily exceed $1,000,000.
Umbrella insurance protects against bankruptcy.
- Your dog injures a guest in your home
- An injury caused by a babysitter’s negligence
- Child’s friend bounces off a backyard trampoline and breaks an arm
Umbrella insurance also pays on damages awarded in a courtroom which means it’s protection against wage garnishment, a mandatory paycheck deduction used to pay debt.
When you buy your house, you’ll purchase homeowners insurance to cover. At the same time, make sure to purchase an accompanying umbrella insurance policy, too. Policies are inexpensive and protect you against millions of dollars in damages.
Umbrella insurance protects the money you have today, and the money you’ll earn tomorrow. Policies of $1,000,000 are relatively cheap.
Are you a first time home buyer?
Let us know if you’ve done this before - whether you’re a seasoned pro or buying for the first time. We’ll share the perfect information with you as you need it.
An insurance claim is an official request you make to an insurance company, asking to get paid for damages. Insurance claims can be made for any reason that’s a part of your insurance policy. When you have homeowners insurance, you can make an insurance claim after a fire in your home; after there’s been theft […]