Accidents can happen at any time, so it’s important to protect yourself and your assets from potential liability claims. While most people have some form of insurance coverage, such as auto or home insurance, adding personal umbrella insurance to your personal policy gives you extra security. This extra layer of coverage goes beyond your existing coverage limits and offers improved financial security and peace of mind.
This blog gives you ten compelling reasons why you should consider getting personal umbrella insurance today in addition to your other personal insurance coverage. It focuses on the importance of this often overlooked insurance cover compared to others.
10 benefits of having personal umbrella insurance
- Increased liability coverage: Personal umbrella insurance provides coverage beyond the limits of your existing liability coverage limits in your auto or home insurance policies. If you face a lawsuit and the damages exceed your primary policy liability limits, your umbrella policy covers the remaining costs and protects your finances.
- Protection against legal costs: Legal costs can add up quickly during a trial. The personal umbrella insurance policy covers the damages and helps pay legal fees, legal fees and court costs, saving you from significant financial burdens.
- Coverage for personal injury claims: Personal umbrella insurance extends coverage to personal injury claims, including libel, slander, libel and invasion of privacy. In today’s digital age, with growing online interactions, this coverage is essential.
- Protect your future earnings: If you are held liable for a liability claim, the damages awarded against you may exceed your current assets. Personal umbrella insurance secures your future income by allowing you to continue to secure your hard-earned money.
- Protection for non-traditional assets: Personal umbrella insurance covers your home and vehicles and protects non-traditional assets such as rental properties, jet skis or recreational vehicles. Its broad coverage ensures protection for a wide range of your valuable possessions.
- Worldwide coverage: Whether you’re traveling for business or pleasure, personal umbrella insurance offers worldwide coverage. So no matter where life takes you, you are protected against potential risks and lawsuits.
- Additional coverage for business owners: For business owners, personal umbrella insurance can provide an extra layer of protection against liability claims arising from your business operations, protecting your personal and professional assets from potential lawsuits.
- Affordable protection: Personal umbrella insurance is surprisingly affordable, considering its comprehensive coverage. For an annual premium of $150 to $300, you can get $1,000,000 in coverage.
- Protect your loved ones: A personal umbrella insurance policy covers your family members. It ensures that your loved ones are protected against liability claims, providing financial security for your household.
- Peace of mind: It provides peace of mind, giving you the knowledge that you have an extra layer of protection against unforeseen debt and potential financial ruin, allowing you to live your life safely and without constant worry.
Personal umbrella insurance is a critical aspect of a comprehensive risk management plan. It offers increased liability protection with higher coverage limits for personal injury claims and protects your assets and future income. Don’t wait until it’s too late – consider getting personal umbrella insurance today to ensure your financial security and peace of mind.
Enjoy enhanced security with Abbate insurance!
To learn more about personal umbrella insurance and to get the coverage you need, contact our team at Abbate Insurance Associates Inc today.
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