![]() ![]() ![]() If you’re sued and the settlement is over $300,000, you’re responsible for covering anything above that amount out of your own pocket. The average homeowner only carries $300,000 in liability coverage under their home policy. Just like an actual umbrella that provides protection and coverage against rainy days, an umbrella policy is designed to provide additional coverage for large liability claims that your underlying insurance policies (home, auto, boat, motorcycle, etc) can’t cover by themselves. It sits over top of all of the things you insure as an added layer of protection, like an umbrella.Įxample: If a family friend comes to your home and is injured while at your home, they (or their medical insurance company) may deem you to be responsible for their injuries since it occurred on your property. ![]() Umbrella policies can offer additional coverage for things like:Īdding an umbrella policy to your insurance portfolio is a relatively cheap way to give your family incredible protection in the event of a sudden and serious situation. You may have heard the term before, but you might be asking yourself “What is umbrella insurance?” An umbrella policy is extra protection that goes above and beyond your normal limits of coverage when it comes to liability. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |