Personal Umbrella Insurance
The Basics of Personal Umbrella Liability Policies
If you are found to be legally responsible for injuring someone or damaging their property without a personal umbrella liability insurance policy, anything beyond the limits of your standard liability insurance coverage will come out of your own pocket. Standard liability insurance generally includes homeowners, renters, auto and watercraft policies.
A personal umbrella liability policy provides an extra layer of insurance coverage over all of your standard liability policies, including home, auto, boat, etc. It protects your personal assets by kicking in when your standard liability coverage is exhausted.
Who Needs an Umbrella Liability Policy?
At Prairie Villa Insurance , we recommend that everyone should consider carrying an umbrella policy. If you engage in a high-risk activity or hobby that increases your odds of getting sued—such as having a teenage driver, owning a swimming pool or entertaining frequently—it is wise to supplement your insurance with a personal umbrella liability policy. With home insurance, it is difficult to obtain liability limits over the $2 million limit, but you can obtain higher limits with an umbrella policy.
How Much Coverage Do I Need?
You’ll want to take into consideration not only your total personal assets but also your potential personal risks. For example, do you entertain a lot and have people coming to your home on a regular basis? Does your profession or location of your home make you an easy target for a big settlement? Determine your personal risks to evaluate the amount of additional liability coverage that makes the most sense for you.
Coverages start at $1 million and can go as high as $10 million. When considering the value of the umbrella policy, discuss your personal needs with Prairie Villa Insurance .
How Much Does Coverage Cost?
Additional liability insurance is inexpensive when compared to the added coverage you gain. It is usually much less in cost compared to carrying high liability limits on all of your current policies. We can very easily provide a quote for your specific requirements.
Count on Us
Don’t wait for a rainy day to find out you need the additional protection a personal umbrella liability policy can provide. Call Prairie Villa Insurance today at 780.532.7800 to discuss your unique needs and learn about all of our liability insurance solutions.