4 Potential Risks Covered by Umbrella Insurance
Experiencing a major insurance claim or lawsuit could lead to personal financial loss if costs exceed coverage provided by your standard homeowners and auto policies. We’ll help protect your financial future. Here are 4 potential risks covered by umbrella insurance:
1. Property Damage Liability
Risk Factor
You can be held responsible if you significantly damage another vehicle and/or property. Do you have enough coverage to protect yourself from the risk?
Solution
Your standard auto policy limit could easily be exhausted if you are found to be at fault. An umbrella or excess liability policy provides an extra layer of protection once your standard liability limits are exhausted. It’s a cost-effective way to ensure the peace of mind you deserve.
2. Bodily Injury Liability
Risk Factor
It’s easy to get distracted while driving. All it takes is an incoming text message, a fussy baby, or changing the radio station and your eyes are off the road long enough to crash into a pedestrian, bicycle, or another vehicle. As an owner/operator of the vehicle, you may be held financially responsible for any bodily injuries caused as a result of the accident.
Solution
An umbrella or excess liability policy helps extend your coverage to better protect you against these significant costs. It’s the ideal coverage to provide peace of mind, even when the unthinkable happens.
3. Lawsuits
Risk Factor
You invite guests over for a pool party and one of your guests dives into the shallow end of the pool and is permanently injured. They hire a lawyer to represent them and after a long legal battle, you and your family are left financially responsible for their injuries. Do you have enough money in savings to cover your legal responsibilities as well as the legal defense costs?
Solution
An umbrella or excess liability policy increases your personal liability limits by adding protection over and above your current auto, boat, or homeowners policies – providing real financial value, as well as priceless peace of mind. Excess liability insurance is available either by an endorsement to your homeowners policy or available as separate coverage.
4. Watercraft Liability
Risk Factor
Accidents can happen to anyone at any time, even those who have been out on the water for years. Personal watercraft insurance is a necessity, but sometimes the limit these policies provide isn’t enough.
Solution
Your standard watercraft policy limit could easily be exhausted if you are found to be at fault for property damage or personal injury. An umbrella or excess liability policy can extend those limits, providing you an additional layer of financial protection.
Get umbrella insurance coverage today!
The Satanoff Agency, located in Wayne, PA, is an independent insurance agency based in 41 states across the United States, working to supply our customers with quality assistance and insurance. Our independent agents offer their services to help you as the customer get the unique coverage you need.
To request a quote for umbrella insurance, click here and we will have one of our agents contact you.
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