PERSONAL UMBRELLA POLICY

Although Homeowner and Auto policies cover personal liability, there is still a demand for the Personal Umbrella Policy.  It provides high limits of liability and broad coverage for a reasonable premium charge. Personal Umbrellas are written to provide excess liability coverage over and above a client’s other liability policies.

The primary policies of Auto and Home act as deductibles for the Umbrella, which only pays in the event that the primary coverage is exhausted. Most insurance companies require that the primary policies be written with uniformly high limits, such as $300,000. If the primary policy pays a claim up to that amount, the Personal Umbrella policy takes over, usually providing at least another $1,000,000 of coverage for bodily injury and property damage.

 Keep in mind that Personal Umbrellas only cover personal liabilities: business or commercial liabilities are covered in their own Commercial Umbrella Liability policies.

If you have any further questions, please call us at Executive Insurance Group. Our team of experts can be reached Mon-Fri 8 a.m.-5 p.m. at 330.966.0080 locally, 800.981.0080 toll free, or email: info@executiveinsurance.com