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What happens if someone on your property is hit by a tree branch or slips and falls? Is the liability coverage in your homeowner’s policy enough to cover a serious accident and the lawsuit that could follow? With an umbrella policy, you can add to the liability coverage in both your home and auto policies.

Just like with any other kind of policies, umbrella coverage can have some things it won’t cover depending on the policy (such as punitive damages or business endeavor claims). An insurance expert can help you go over the policies to find the coverage that’s right for you.

Swimming pools are some of the great luxuries in life, and having one adds significantly to the value of your home. However, accidents can happen, and having an umbrella liability policy can protect you in the event you exceed the limits or your underlying policies.

What would you do if your spouse or teenager caused an auto accident that had serious injuries? Once the limits of your homeowner’s policy are exhausted, you are personally liable for the remainder of a verdict or settlement, which could even include garnishing your wages.

Did you know that umbrella insurance does more than protect you from property damage and bodily harm liability? It also protects against such incidents as false claims, false arrest, invasion of privacy, and intentional acts such as libel, slander, and vandalism.

One of the main advantages of having umbrella insurance is that it can protect you from all sorts of unfortunate circumstances, such as having your assets seized or even losing your home.

One rule that can help you determine whether you need an umbrella policy is if your assets are worth more than the insurance coverage you have, you probably need to invest in umbrella insurance.

As your financial circumstances improve, you need to protect your assets from attack in the event you are sued. An umbrella policy is designed to pick up where your homeowner’s policy leaves off to keep you protected.

Did you know that umbrella policies did not become widely known and sold until the 1960s? In fact, many businesses did not purchase their first umbrella policies until the 1970s.

Even if you have a homeowner’s policy or an auto policy, there are some things these policies won’t cover. When you have an umbrella policy, you’re more completely covered, so you don’t have to worry about coverage gaps if something goes wrong.

If your family has accrued assets over the years, including a home or homes, retirement savings, brokerage accounts, and cars, you may need to protect those assets with an umbrella policy. This is important, as most basic insurance policies only cover a portion of these assets.

The reason umbrella policies are so affordable is that the law requires that basic coverage must be paid out first. In the case of an auto accident with $500,000 in injury damages, the auto liability policy pays on a primary basis. An umbrella policy is only accessed if the claim has not been completely paid.

By investing in an umbrella insurance package, not only can you save money by combining various policies, but you can also be spared the time and effort needed to purchase and manage separate individual policies.