You’re thinking, “I have auto and homeowners insurance that covers some of these situations.” True! But, umbrella insurance insures you above and beyond the limits of those policies and covers some situations that aren’t covered by the other types of policies. And rates are less than you think!
Still a bit hazy on what an umbrella policy covers? Well, let’s dig into the details a bit. Umbrella insurance provides coverage for
Covers the cost of damage or loss to another person’s tangible property. Examples include the cost associated with:
This coverage protects you in the event you are sued for making injurious spoken statements about someone.
Libel coverage safeguards you if you are sued for making injurious written statements about someone.
Provides protection in case you are sued for wrongful arrest or detention.
This coverage defends you against lawsuits stemming from wrongful legal actions taken against others.
Coverage for emotional distress claims arising from various situations.
Comprehensive protection for a range of personal liability situations that may not be covered by standard policies.
So, let’s look at an example to help you better understand how an umbrella policy would work to protect you. Let’s say you cause an auto accident and the cost of the injuries you cause to others is $500,000. Let’s further say that the Bodily Injury limit on your auto insurance is $300,000.
Your auto policy will cover $300,000 of the injuries. But who will cover the remaining $200,000? Your umbrella policy will. It will cover the amount above the limit set in your auto policy, up to the limit you choose for your umbrella policy.
Your Woodland Hills insurance experts. Trusted, experienced, and dedicated to securing optimal coverage at the most competitive rates.
