Personal Umbrella Insurance

Enjoying an afternoon in your swimming pool, entertaining guests at your home or having a teenager who drives are regular activities for countless people. However, any of these actions—and others—can increase your odds of another party sustaining an injury, leading to unexpected expenses and a potential lawsuit for you. 

For coverage beyond what your existing insurance policies may provide, consider purchasing a personal umbrella insurance policy. Contact the experts at Ed Weeren Insurance Agency to learn more about this type of coverage today.  

What Is a Personal Umbrella Insurance Policy? 

Many typical insurance policies, including a homeowners or auto policy, provide some liability coverage. Other standard policies include renters and watercraft policies. The liability portion of these policies pays only up to certain limits, and that’s where personal umbrella insurance provides extra protection. When your standard liability coverage is exhausted, personal umbrella insurance provides an extra layer of insurance coverage over your assets. 

What Does Personal Umbrella Insurance Cover? 

Personal umbrella insurance helps cover claims that exceed the limits of your other liability coverage.  

To use umbrella coverage, you must first file a claim against your standard liability policy. Once that policy has maxed its benefits, then you use your umbrella policy to cover the difference. Most policies offer at least $1 million in additional protection.  

Who Needs an Umbrella Liability Policy?  

You should consider having a personal umbrella policy if you engage in high-risk activities or hobbies that increase your chances of being sued. Without a personal umbrella insurance policy, you could be liable for covering costs out-of-pocket.  

How Much Coverage Do I Need?  

The amount of coverage you need for personal umbrella insurance depends on your assets and your potential risks. For example, do you operate a home business and have employees and clients to your house regularly? Does your occupation or your home’s location make you a target for someone hoping to receive a large lawsuit settlement? The Ed Weeren Insurance Agency can help determine your risks and the coverage that makes the most sense. Coverage begins at $1 million and can go as high as $10 million.  
 

Personal Excess Liability Insurance Vs. Umbrella Insurance 

If a policy does not cover an incident, policyholders may be responsible for paying claims for third-party injuries and property damage out of pocket. Personal excess liability insurance and personal umbrella insurance are terms used interchangeably. These coverages increase the dollar limit of your auto and homeowners insurance policies.  

How We Can Help  

The Ed Weeren Insurance Agency can help make sure your umbrella liability policy provides you with optimized protection at all times. Since 1899, we have provided customized insurance protection at the right price to the Austin, Texas, community. Call us at 512-454-5266 for your quote today.