Personal Umbrella Insurance
Most people know about personal insurance coverage options like auto insurance and homeowner insurance, but one policy type that remains a mystery to many is umbrella insurance. What is it, what does it cover and who needs it? Hembree Insurance Agency is here to help.
What Is Personal Umbrella Insurance?
Personal umbrella insurance protects your assets by paying when a standard liability coverage (e.g., homeowners, renters or auto policies) has reached its limit. If you are found legally responsible for injuring someone or damaging their property, anything beyond the limit of your standard liability coverage will have to be paid for out of pocket. But if you have umbrella insurance, it will help cover those additional costs.
What Does a Personal Umbrella Insurance Policy Cover?
An umbrella insurance policy typically covers bodily injury, personal injury, property damage and landlord liability. It comes into play when your standard liability limits have been reached. But it typically does not cover personal belonging claims, business loss claims, criminal acts, or written or oral contracts.
Who Needs Personal Umbrella Insurance?
Most people can benefit from having a personal umbrella insurance policy. It is essential if you engage in high-risk activities or hobbies that increase your odds of getting sued, such as owning a swimming pool, having a teen driver or entertaining guests frequently. Personal umbrella insurance helps supplement your insurance coverage if a major incident takes place.
Another important aspect of personal umbrella insurance worth considering is that it generally applies to other residents in your home. This could include your spouse, children and other relatives living under your roof.
Personal Umbrella Policy Cost in Kennesaw, GA
Additional liability coverage is inexpensive when compared to the added coverage you gain. For more information, contact Hembree Insurance Agency. We have been helping Georgians find coverage that meets their needs for more than 20 years.