Benefits of Personal Umbrella Insurance Coverage

The insurance is named after an umbrella because it gives the holder of the policy that extra coverage over and above existing home and auto insurance policies that can make all the difference in weathering financial storms. Examples of this policy coverage are as follows:

If by accident a person is hurt on your property and you are unfortunately sued for it, the umbrella policy will come to the rescue.
An automobile accident caused by your negligence will be covered.
Your garden tree crashing on to your neighbor's house or property damaging it during a storm will be covered.

For a coverage of $100,000 you may need to pay around $100 per year. That is a worthy investment. With more and more lawsuits coming up nowadays, it is better to be prepared with an all inclusive insurance policy for maximum coverage.

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Free Umbrella Quote

Certain online companies like the AIG Hawaii are offering to give customers a free personal umbrella insurance quotes with no obligation to enroll in the insurance program. To be eligible for the umbrella policy certain limits of liability are needed which can be checked from your insurance company.

Types of Umbrella Coverage

Insurance companies like MetLife are providing three types of personal liabilit y insurance coverage. They are as follows:

Primary coverage

This covers liability claims like false arrest, defamation of character, slander and libel.

Additional coverage

This covers you for home, automobile, watercraft and other vehicles.

Legal coverage

The Company covers legal payments like cost of defense, daily wages lost due to court hearings, premiums on appeal bonds and other expenses you have to bear during trial. A minimum amount of deductible is present for the coverage. The companies offer easy payment options, round the clock service and phone assistance.

Policy Myths

It is a myth to think that the personal liability umbrella policy is only for the rich.
It is a myth to think that the personal umbrella insurance is extremely expensive
It is a myth to think that insurance is necessary for only the bread winner of the family.
It is myth to think that you would not need flood insurance since you are living in a low riskarea.

Never assume that a catastrophe will not occur. It is always better to have an umbrella protection overhead. The personal umbrella liability insurance provides an extra coverage to your existing auto and home policies. With lawsuits increasing day by day, you need this policy for peace of mind. Invest in this policy and safeguard yourself and your family members from tragedies. If you work at home or run a home-based business, this type of extra insurance offers you additional liability protection and protects your business equipment specifically. In addition to your regular home insurance policy, this can protect you against lawsuits and claims made by clients and others who are injured on your home and can protect you from liability in cases where delivery personnel are injured while delivering business equipment to your home office. In some cases, this type of insurance can also help you pay for the income lost in case your home office is destroyed or damaged. Since your home-based business generally has expensive equipment and since you rely on your office for livelihood, this type of coverage can give invaluable benefits if you work from home.

Umbrella Liability Coverage Can Save You From the Headache of a Lawsuit

This additional liability coverage helps ensure that in case you are sued by someone who has injured themselves and their property, you will be able to afford the costs associated with such an accident. Basically, umbrella liability coverage allows you to make larger claims in case someone is injured on your home. Both home and car insurance policies are covered by this type of coverage. For example, if someone sues you for $1 million after injuring themselves in your car, an umbrella liability protection policy will ensure that you can meet all the costs related to the lawsuit.

For the homeowner, there are many types of home owner insurance coverages available to help make your insurance policy more comprehensive. Even if you have a very good

Home insurance coverage, there are probably many exceptions for not covering every possible damage or harm to your home. Getting extra coverage or insurance means that you're protected from some of the common types of destruction that can cost you a lot of money.

Additional Home Insurance Coverage
Can You Get Insurance For Mobile Homes?
Do you Need Flood Insurance?
What is Landlord Buildings Insurance?
Earthquake Insurance for Home Owners
HO-B Policy - Does it Provide Cover for Every Damage?
Protect Your Household Contents! Go for Home Contents Insurance
HO-3 Policy - Exposed to Risks?

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