GETTING THE BEST UMBRELLA INSURANCE

Ever had a bad day? What about a really, really bad day? Standard insurance coverage will most likely be able to handle your average bad day, but when you get into “really, really” territory, the consequences and claims could go well beyond the limits of your policy.
Adding extra padding to your current policy could be a financial life-saver and worth the cost. Our independent insurance agents will walk you through your top (PUP) personal umbrella policy options to make sure you have the proper coverage to tackle those hard-hitting claims.
WHAT IS UMBRELLA INSURANCE
Umbrella Insurance for Person
Simply put, a personal umbrella policy or a PUP is an extension of your liability insurance. It helps broaden and increase your protection. This can include significantly upping your coverage limit to relieve the financial strain of medical bills and legal fees in the event of an extremely costly accident.

 

 

 

 

WHAT DOES UMBRELLA INSURANCE COVER

  • Umbrella insurance protects you in liability situations where your home, auto or boat policies come up short. The extra coverage protects you in two ways—and here they are:
    Increases the dollar limit of liability coverage for primary policies: Say your auto insurance liability coverage limit is $300,000. If you purchase an umbrella policy of $1 million and cause an accident that exceeds your $300,000 auto insurance liability limit, your umbrella insurance can cover the remainder, up to a total of $1.3 million. That’s pretty huge.

  • Covers claims excluded by primary policies: Most liability policies don’t cover damage claims resulting from false arrest, libel, slander or defamation of character. Should one of these nightmare situations occur, your umbrella policy can help you tackle the financial burden. Another huge bonus.​

WHY SHOULD I BUY UMBRELLA INSURANCE

Umbrella insurance is surprisingly inexpensive, especially considering everything it can do. It would be a shame to get stuck with massive bills if the unexpected strikes, when it could have all been covered at a fraction of the cost. Liability incidents come in all shapes and sizes, so being ready for everything from the itty to the not so bitty is key for your financial future.

This article was originally published by Trusted Choice. Access to full article can be found here.

Speak to a Snotherly Insurance agent today for more details!

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