Personal Umbrella Insurance

Personal lines of insurance, such as homeowners insurance, renters insurance, and auto insurance, come with a layer of protection against claims for which you may be liable. However, these policies typically limit how much the policy will pay out in case of a claim. In today’s times, where medical costs are soaring and repairing or replacing damaged property is more expensive than ever, claims can quickly exceed the limits of your existing policy.  

That’s where a personal umbrella insurance policy can help. Without this coverage, you may have to pay out of pocket for liability claims or lawsuits that exceed your existing policy's limits. Contact Schaffner Insurance Agency today to learn more about your personal umbrella insurance options.  

What Is Personal Umbrella Insurance? 

Personal umbrella insurance can give people extra coverage above and beyond their other personal liability insurance limits, such as their auto, homeowners or boat insurance, to safeguard their family and assets. A personal umbrella policy can help protect you from large and potentially devastating liability claims or judgments and provide coverage for injuries, property damage, certain lawsuits and personal liability situations.  

Every policy is different, so be sure to work with an agent to determine whether an umbrella policy is right for you and how much coverage you need.  

What Does Personal Umbrella Insurance Cover? 

Personal umbrella insurance can provide you with a broad safety net that can cover many common risks and exposures if the coverage limits of other policies are exceeded. In general, this may include the following incidents: 

• Bodily injury—This coverage can provide additional financial assistance if you are at fault for someone else’s injuries, such as in a car accident or while they were visiting your home, and their losses exceed your other liability limits.
• Property damage liability—If you are responsible for damaging another party’s property but lack sufficient coverage to pay for repairs or replacement costs, personal umbrella insurance can make up the difference.
• Lawsuits—If you are sued and your legal costs, such as representation, court fees and settlements, exceed the limits of your other insurance policies, personal umbrella coverage can provide additional funds. 

In general, personal umbrella coverage can provide coverage for incidents you, your spouse, your dependents, others listed in your policy, or pets, may cause.   

How to Get Umbrella Insurance 

If you need umbrella insurance for personal or business purposes, we’re here to help. The team at Schaffner Insurance Agency is here to help you navigate your insurance needs. Don’t wait any longer to get the coverage you need.