by: Linné Pullar
You’ve worked hard, built up assets, and you have insurance to protect those assets. So, why would you want an umbrella policy? You’re covered, right? Watch this video for an example of how an umbrella policy could provide you additional protection.
A personal umbrella policy provides an additional layer of liability protection. If the liability limits are exhausted on your home, auto, or other underlying insurance policy, your umbrella takes over and provides you with additional protection of at least one million dollars.
Typically, an umbrella policy covers more than one property or asset. Consider umbrella coverage if you own a car, home, condo, boat, RV, snowmobile or rental property. Each of these assets can present an exposure for risk. For example, if your dog bites the neighbor or you have a teenager driver, each of these could present risk for a liability law suit.
The content provided here is general in nature and is for training purposes only. Contact your insurance agent for additional information regarding rating, underwriting and claims handling.