Umbrella insurance is a policy that can cover the gaps in many other types of insurance policies by answering some of life’s major “what if” questions. While it’s common to have many types of insurance policies, umbrella coverage can provide financial assistance for a variety of outlying situations.
Here is a basic guide to umbrella insurance to help you learn more:
Umbrella insurance provides additional personal liability coverage for situations not included in other policies. The major liability issues umbrella coverage includes are bodily injury, property damage and legal coverage in certain lawsuits.
Umbrella insurance can help you in a variety of situations where another person is injured due to an accident. These might be events your auto insurance or homeowners insurance cannot pay for. Some examples include:
It can also cover you if you’re sued for certain things, including but not limited to libel, slander or false imprisonment.
There are several key differences between umbrella insurance and other types of policies. For example, here are some things similar to those listed above are not covered:
Hopefully, you will never have to worry about these or any other types of insurance claims, but umbrella insurance can mitigate your losses if something should go wrong.
Ultimately, the decision is personal and might depend on numerous factors including your property type and location, how many vehicles you own and what your existing home and auto insurance limits are.
The more you know about your options, the greater peace of mind you’ll have. Discuss with an insurance professional to find out what makes the most sense for your situation.
Originally from upstate New York, I moved to Park City soon after college to spread my wings and explore the western United States, taking full advantage of the world class golf courses, beautiful mountains and the greatest snow on earth. 20 years later I am grateful to still call Park City home.
Client experience is my #1 objective. I have a passion for helping people realize their perfect Park City experience. My 22 years of resort management provided me with tremendous opportunity to work with so many different people from all over the world, delivering the services and experiences they desired and facilitating them to take advantage of all Park City has to offer.
Having played, worked and raised three children in Park City, my knowledge runs deep of the community and its surrounding areas, and all they have to offer. I am confident I can help you to find your next dream home in this wonderful community.
