Cover Yourself with a Personal Umbrella Insurance Policy

Many people assume that with all of the insurance policies that they already have, from homeowners to auto insurance, that they are covered in any situation. However, many people run into situations that are not covered by their insurance policies, or problems that require more liability than they have. Investing in a personal umbrella insurance policy is the best way to ensure that you are covered in any situation.

A personal umbrella policy provides extra liability coverage in the unfortunate situation that your auto or homeowners insurance policy does not have enough. The policy will only “kick in” after all of the liability of your other insurance policies have already been used up. A personal umbrella policy will also provide coverage for situations that are not covered by any other insurance policy, including slander or libel.

Typical personal umbrella insurance policies provide $1 million in extra coverage, and then go up in million dollar increments. While you may think that there is no way that you will ever need $1 million in coverage, the cost of an accident or lawsuit can easily add up. Consider if you were involved in a car accident that was your fault. If the other driver is injured and not able to work, they can sue you to cover their lost wages. If they are a highly paid lawyer, you can easily be held responsible for not only their lost wages, but also for the court fees for the lawsuit, all which could easily total $1 million. Your auto insurance policy will most likely not have enough coverage to pay for all of the costs of the lawsuit. A personal umbrella policy will help to ensure that you are not left paying out of pocket to cover the cost.

For all of your personal umbrella insurance needs throughout New York to ensure that you have the right amount of protection in any situation, contact the insurance professionals at Alliance Group in Fairport, New York.