An umbrella policy is another policy in addition to your Homeowners policy, Automobile and/or water craft, etc. insurance policies that you have in place. If an incident happens and you are being sued and your original policy as maxed out, the umbrella policy kicks in for added protection. Whether for property damage or to cover medical expenses, this type of policy can prevent you from breaking the bank if something happens.
For example: Say you are having a pool party and one of your guests slips and falls resulting in a broken leg. Friends or not, you will be responsible for the injury. Let’s say your home owner’s policy will pay up to $10,000 but the hospital bill was $15,000, the umbrella policy will pick up the difference saving you a lot of money out of pocket. In the long run, this policy has definitely paid for itself time and time again.
If looking for some additional protection on your home or automobile policy, give us a call. Umbrella policies are relatively inexpensive for the coverage provided. One of our agents will gladly give you an insurance check-up to help determine what is best for your personal situation.