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Do You Need Personal Umbrella Insurance?

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Personal umbrella insurance helps protect you from financial losses that might result from incidents and unforeseen circumstances. Many umbrella policies raise coverage limits and add coverage for personal injury claims, such as slander or libel. 

What Is Umbrella Insurance?

Umbrella insurance is a type of personal liability insurance that can add additional coverage and raise the payment limits for personal insurance policies, such as insurance Maitland FL. Because umbrella policies provide liability coverage, they can cover more costs than a home or auto policy if the damage is caused to a person or property that is not in your household. 

How Can Umbrella Insurance Help Me?

A personal umbrella policy can cover both home and auto insurance, which can provide protection from most liability claims. Also, umbrella policies can raise the limits of coverage. For example, if you have a homeowners policy that provides up to $100,000 worth of liability coverage and an auto policy worth $200,000 of liability coverage, the umbrella insurance can raise the coverage payments over the limits of both policies, such as to $1 million. 

Is Umbrella Insurance Worth the Cost?

Accidents can happen, which is why umbrella insurance is crucial. For example, if your car tire is punctured while driving and you crash into another vehicle, you still might be found liable for injuries and damage in the other vehicle. If a visitor at your home trips and shatters their leg, your basic homeowners policy may not be enough to cover their treatments and costs from missing work. 

Injuries and accidents can happen, so you should protect yourself and your assets from liability risks. The right amount of coverage will depend on how much you own and what you want to protect, but it is worth protecting your financial interests with a personal umbrella policy.

Clare Louise

The author Clare Louise