Protect your assets with personal umbrella insurance coverage
How personal umbrella insurance coverage works
Consider this scenario:
- Your home insurance provides $300,000 of liability coverage.
- A serious accident occurs on your property, and you’re sued for $1.3 million resulting in a judgment against you.
- Your insurance would pay up to $300,000 for a covered accident, but you would need to come up with the remaining $1 million.
If you had $2 million of coverage under an umbrella insurance policy, you would not need to liquidate your assets to pay the remaining $1 million in this example.
Personal liability insurance helps protect your wages, house, investments, cars and boats from being at risk if a serious accident occurs. Talk to an agent to find out what the best level of coverage is for your situation.