Personal Liability Umbrella Policy Coverage and Personal Umbrella Liability Insurance Policy

Personal Umbrella Liability Insurance Policy

Personal Liability Umbrella Policy Coverage

There are so many “rainy days” that people can experience - a sick child, a broken-down car or a late mortgage payment. But what about a lawsuit? These days lawsuits are being filed , not just against big corporations, but also against people like you and me. In the blink of any eye, you could be involved in a car or boating accident, or have someone become injured on your property that could result in litigation against you seeking thousands or even millions of dollars.

Coverages in Personal Liability Umbrella Policy

What is an umbrella policy? A Personal Liability Umbrella Policy provides additional layers of personal liability coverage over the liability insurance coverage of your underlying policies. Personal umbrella liability insurance coverage amounts typically begin at one million dollars and can be increase in increment of one million dollars. Here’s an example of how an umbrella policy could work:

Let’s say your car is insured for personal liability with limits of $250,000 per person. You pull into an intersection, strike another vehicle and severely injure the other driver. This insured person sues you and the judgement against you totals $800,000. Your auto policy will pay the first $250,000 but an umbrella policy would respond for the next $550,000. Also an umbrella policy often insures against some types of losses for which there is no coverage in the underlying insurance policy. Examples of such loss include liable, slander, and defamation of character.

Why to Purchase a Personal Umbrella Liability Insurance Policy?

Why have an umbrella liability insurance policy? The value of a personal liability umbrella policy is to provide higher amounts of liability insurance coverage for an affordable premium. It can help protect the financial asset of your household when you need it the most and can bring confidence knowing that you have the liability insurance coverage needed to help protect your family. Find out the latest information on Virginia Umbrella Liability Insurance Policies, and how to get the right protection at the right price. The advice is free the choice is yours.

Personal Umbrella Liability Insurance Policy

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