Personal Umbrella Insurance

An insurance portfolio that addresses your various risks and exposures is an invaluable investment, but it may also be possible for you to have layers of coverage that address the same incidents. While this may seem redundant, policyholders must understand how additional coverage, such as that provided by personal umbrella insurance, can be a crucial component of an adequate insurance package. 

What Is Personal Umbrella Insurance? 
Personal umbrella insurance can generally be considered a form of backup coverage triggered if your other policies, such as homeowners and auto insurance, cannot cover losses and damages arising from an incident for which you are responsible. By having adequate personal umbrella coverage, you can access additional financial resources and not have to pay potentially devastating costs out of pocket. 

What Does Personal Umbrella Insurance Cover? 
Personal umbrella insurance can provide you with a broad safety net that can cover many common risks and exposures if the coverage limits of other policies are exceeded. In general, this may include the following incidents: 

• Bodily injury—This coverage can provide additional financial assistance if you are at fault for someone else’s injuries, such as in a car accident or while they were visiting your home, and their losses exceed your other liability limits.
• Property damage liability—If you are responsible for damaging another party’s property but lack sufficient coverage to pay for repairs or replacement costs, personal umbrella insurance can make up the difference.
• Lawsuits—If you are sued and your legal costs, such as representation, court fees and settlements, exceed the limits of your other insurance policies, personal umbrella coverage can provide additional funds. 

In general, personal umbrella coverage can provide coverage for incidents in which you or the following other parties were at fault: 

• Spouses
• Relatives or dependents living with the policyholder
• Others specifically named in your policy
• Pets 

Get the Right Coverage 
A diverse insurance portfolio is a great first step for protecting your finances and future, but further investment in a personal umbrella policy may be necessary. These policies provide a cost-effective layer of security that may prove critical in the aftermath of a particularly serious incident.  

We’re here to help. For over 50 years, the agents at Bruening Insurance Agency have proudly helped residents, families and businesses in the Miami and Fort Lauderdale areas better protect themselves with optimal insurance solutions, such as a personal umbrella policy. Contact us today to get started.