Umbrella Insurance Provides Additional Liability Protection
Umbrella insurance is a way to gain additional liability coverage. It works when your existing liability coverage has been used in its entirety. In the event that your liability coverage is not enough to meet your needs, the umbrella insurance will pay the additional costs up to its limits. You can also get help with claims that are not included in other liability policies, like libel, false arrest, and slander.
Property damage liability covers the costs of paying for damages to the property of another person. This includes the cost associated with things such as damage caused by a pet, damage you cause to a car or other property, and damage caused by your child at school.
Bodily injury covers the expenses of injuring another person. This includes injuries such as bodily harm that results from an accident you caused, guests injuries that occur at your home, and harm caused by your pet.
Rental unit owner coverage is umbrella protection for landlords. Some examples include liability claim costs resulting from a person suing you after they are hurt on your rental property. It would also help if a tenant’s dog bit someone and you are held responsible for those injuries.
Speak with an insurance agent if you feel umbrella insurance is beneficial. The agent can discuss your situation and give you the best course of action.