Personal Umbrella Insurance

Personal umbrella insurance provides an extra layer of protection on top of existing insurance policies (e.g., home, auto, watercraft). It is typically less expensive than other types of insurance but is often overlooked. 

What Is Personal Umbrella Insurance? 
A personal umbrella insurance policy offers protection from excessive costs that could arise if a claim or legal judgment exceeds the limits set by general insurance policies. Unlike some types of insurance, personal umbrella insurance protects you and your family from potentially devastating expenses.  

When accidents lead to lawsuits, the legal fees alone can cause severe financial hardship, not to mention medical expenses and property damages if you are deemed responsible. Personal umbrella insurance typically has limits of $1 million, but higher limits are often available. 

The following coverages are some of the benefits commonly included with personal umbrella insurance:  

• Bodily injury including medical costs, funeral expenses and lost wages
• Personal injury caused by false arrest, invasion of privacy, libel, humiliation or defamation of character
• Property damage or the destruction of someone else’s property resulting in the loss of use 
• Legal fees if an accident leads to a lawsuit against you or your family 

Do I Need Personal Liability Insurance? 
In an increasingly litigious society, it never hurts to have extra protection. Personal umbrella insurance can provide peace of mind and additional financial security, especially if the total value of your assets (e.g., checking and savings accounts, home equity, retirement accounts) far exceeds the limits set by your existing insurance policies. 

Getting the Protection You Need 
As a family-run business with over 40 years of experience, we understand how vital family protection is to you. Contact us at Podmaska Insurance Agency in Rhode Island to learn how our insurance policies can be tailored to your needs.  

 

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