What Does An Umbrella Insurance Cover

What Does An Umbrella Insurance Cover? What is umbrella insurance?

Umbrella insurance is a type of insurance that you can add over existing insurance policies, such as home or auto insurances. It provides additional coverage, in case your current insurance policy has reached its limits. Umbrella insurance covers injuries, property damages, and personal liability cases. 

What does an umbrella insurance policy cover? 

Umbrella insurance provides coverage above the limitations of your existing insurance policies, as well as for claims that liability policies may not cover. It generally includes coverage for the following: 

• Injuries 

• Property damages

• Lawsuits 

• Personal liability cases 

While it does not cover these instances: 

• Personal belongings 

• Business losses

• International or criminal omissions 

• Written contracts 

Who needs the umbrella insurance policy?

Almost anybody can benefit from umbrella insurance. This is because high-cost incidents can happen to anyone. Other members of your household, such as your spouse, children, and other relatives who live in your home but do not have auto or property insurance in their names, are usually covered under umbrella insurance.

Excess liability insurance and umbrella insurance are similar but not identical. This insurance only covers the same risks as your underlying policy and has the same limitations and exclusions.

How can umbrella insurance protect you?

It is recommended to buy umbrella coverage if you have a lot of assets. If you are sued for something, your liability insurance from your auto and homeowners insurance plans might not be enough. Umbrella insurance, in the end, protects you from losing everything in the event of a lawsuit.

Whether or not the case is meritless, a lengthy court battle is unpleasant and can potentially destroy a person’s reputation. Buying umbrella coverage will not relieve the stress, but it can help you protect all you have worked so hard for.

Logos Insurance Services would be happy to assist you in determining what type of insurance fits your small business and, if so, what types of policy coverages would be most appropriate for your budget and circumstances. Call us at (818) 649-2267 or visit our website www.logosinsure.com to learn more about our offered insurance services.