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Personal Umbrella Insurance in Kokomo, IN

You may already own multiple forms of personal liability coverage to protect yourself and your loved ones from financial hardship, such as homeowners insurance, auto insurance or renters insurance. Even with these coverages, you may have overlooked an important—and relatively inexpensive—coverage: personal umbrella insurance.

What Is Personal Umbrella Insurance?

A personal umbrella insurance policy begins where your existing liability coverage stops. It can provide greater coverage limits and help fill the gaps between your existing insurance policies to provide financial protection if a claim or judgment exceeds your current policy limits. Typically, personal umbrella policies begin with a $1 million limit, but more significant coverage limits may be available.

What Does a Personal Umbrella Insurance Policy Cover?

Personal umbrella coverage can help pay for legal bills if you need to defend yourself from a liability claim. It can also help pay for expenses (e.g., medical bills and property damage) if you’re held legally responsible for causing bodily injury, property damage or personal injury to a third party.

What Does Personal Umbrella Insurance Not Cover?

You will typically need to purchase minimum amounts of underlying liability coverage to get personal umbrella insurance. Although these policies can provide coverage for a range of losses—in some instances including losses that would otherwise have been excluded from underlying policies—there are limitations.

The following are some examples of damages that typically won’t be covered under a personal umbrella insurance policy:

  • Damage to your home
  • Damage to your car
  • Damage to your personal possessions

Review your policy carefully to ensure you understand what’s included in your policy or ask your insurance agent.

Where Can I Buy Personal Umbrella Insurance?

There are numerous situations where you could benefit from owning personal umbrella insurance. Contact Freeman Insurance Services in Albany, California, to learn more about our personal umbrella insurance policies and to get a free insurance quote.

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