Personal Umbrella Insurance
The experienced risk management assessors at McDermott Costa Insurance will pair you with the personal umbrella insurance coverage that meets your specialized needs.
Homeowners, auto, and watercraft policies have a limit on liability insurance. If an unfortunate accident should happen that is your fault, do you have enough liability insurance from your current policies to cover your costs for negligence? Since no one can predict how much a judge may award the injured person, personal umbrella insurance is a necessary protection for every policyholder.
Umbrella insurance coverage is designed to give you added liability protection above and beyond the limits on homeowners, auto, and watercraft personal insurance policies. With a personal umbrella policy, depending on the insurance company, you can add an additional $1 to $5 million in liability protection. This protection is designed to “kick-in” when the liability on other current policies has been exhausted.
Liability insurance is the portion of a homeowners or auto policy that pays for expenses such as the injured persons medical bills, rehabilitative therapy, and lost wages due to the negligence of the at fault person. The liability portion of an insurance policy also covers a legal defense representative if the negligence would happen to land the at fault person in the court room. After adding up all of the medical expenses for the injured and the legal fees of the negligent person, the standard liability in your homeowners or auto policy is often not enough. Almost every state has financial responsibility laws that will hold drivers accountable for bodily injury and property damage resulting from car accidents and the at-fault driver could be sued for the damage. Personal assets from the at-fault driver could be seized resulting from a lawsuit. Similar laws are also in force for home and watercraft owners.
There is good news - a personal umbrella insurance policy can give you added liability protection without a large added cost. Additional liability insurance is often inexpensive, especially compared to the added coverage gained. Furthermore, liability insurance covers your non-business activities anywhere in the world. Having the added protection of umbrella insurance coverage is a benefit no one should go without.
At McDermott Costa Insurance we are dedicated to providing you with superior umbrella insurance coverage. Give us a call today at 800-374-8951 for a personalized consultation.