Personal Umbrella Insurance

If you’ve ever wondered what could happen if a claim or judgment exceeds the liability limits of your personal insurance policies (e.g., home, renters, auto) then personal umbrella insurance could be right for you. A personal umbrella policy can provide additional financial protection on top of your existing policies to protect your assets in a worst-case scenario. 

The agents at Arbutina Insurance Group are here to answer your insurance questions. Contact us today to learn more about personal umbrella coverage.  

What Is Personal Umbrella Insurance? 
Personal umbrella insurance can help fill the gaps between your existing personal insurance policies to provide greater liability coverage for you and your family. It can generally be used to increase the limits on your existing insurance policies and may also include coverage for some previously excluded losses. Review your policy carefully for coverage details. 

What Does a Personal Umbrella Insurance Policy Cover? 
A typical personal umbrella insurance policy will increase your personal liability coverage beyond what you currently have under existing policies. For example, personal umbrella coverage may include the following coverage: 

• Bodily injury liability can help pay for expenses (e.g., medical bills) arising from allegations of third-party bodily injury caused by you or your family.
• Personal injury liability can help cover costs if you’re held legally liable for third-party personal injury (e.g., defamation or slander).
• Property damage liability can help pay for repairs or replacements if you or your family cause third-party property damage. 

Your personal umbrella policy can also help pay for legal bills associated with liability claims. In some cases, your personal umbrella insurance may help provide financial protection for liability losses outside the United States. 

Who Needs Personal Umbrella Insurance? 
No laws require you to purchase umbrella insurance; however, it may be beneficial in certain circumstances because it is relatively inexpensive. If any of the following instances apply to you, you should consider asking your insurance agent about umbrella insurance: 

• Your total assets exceed the limits of your existing policies.
• You feel at an increased risk of a liability claim or related lawsuit (e.g., you own rental properties or have a teenage driver).
• Your property has an “attractive nuisance,” including a swimming pool, trampoline or playset.
• You’re worried about liability claims while traveling internationally. 

Several other variables may factor into your decision to purchase personal umbrella insurance. The agents at Arbutina Insurance Group can help you understand your coverage needs. Contact us today to speak to an insurance agent and get a free insurance quote. 

We serve Brunswick, Medina and Strongsville, Ohio.