What Does Personal Umbrella Insurance in Salt Lake City Cover?
- Personal umbrella insurance is known as a secondary policy. It only kicks in if you have a primary insurance policy.
- This type of policy works after your other liability coverage has reached its limits in a claim. It is designed to cover your liability for an injury that happened to someone else or damage to their property.
- Personal umbrella coverage works in conjunction with home insurance, auto insurance, motorhome or RV insurance, renter’s insurance and other policies you may have which include liability coverage.
- This policy pays for medical costs beyond your primary coverage. It also covers expenses for legal help to defend you in a lawsuit.
How Much Personal Umbrella Insurance Coverage is Necessary?
Most policies provide one million dollars of coverage or higher to pay for additional expenses beyond what your primary policy will pay. The cost is usually minimal compared to how much you must pay for the primary policy.
When considering how much coverage you need for personal umbrella insurance, you should think about what assets you own. In a lawsuit, if the case is found against you, then you could end up losing your home or other assets to pay for the suit. The policy prevents that issue because it covers those expenses or costs over your primary policy limitations. You want to make sure you have enough coverage if you should be involved in a major lawsuit, which can end up costing hundreds of thousands or even several millions of dollars.
Salt Lake Insurance Group offers a personal umbrella insurance policy for those who need and want the extra coverage. For a reasonable rate, you can have peace of mind that you, your family and your assets are protected.