Personal Umbrella Insurance

To really feel secure about protecting your assets and your future, you may need the extra level of protection provided by a personal umbrella liability insurance policy.

Buffalo Grove, Deerfield, Gurnee, Highland Park, Lake Forest, Libertyville, Lincolnshire, Illinois  – What’s Peace of Mind Worth to You?

An umbrella policy provides additional layers of liability protection. If the liability limits are exhausted on your home, auto, or other underlying insurance policy, your umbrella insurance policy takes over and provides you with additional protection. The cost is minimal compared to the comfort of knowing you’re covered.

What are the benefits of personal umbrella insurance?

Standard insurance policies do provide valuable protection. But, there is still a chance that you can become financially liable for a sum larger than what your policies will cover. For instance, say you have a fire in your home, and it spreads to destroy your neighbor’s property. Does your home insurance policy include enough liability coverage to pay for the damages?

Umbrella insurance can protect your assets if you are held liable for property damage or bodily injury. It can also help cover legal fees, false arrest, libel and slander. If you are sued and do not have enough coverage with your standard policies, all your assets are exposed. This can include your house, car, financial and retirement accounts, and future income. 

Think of umbrella insurance as a blanket policy that adds another layer of coverage on top of your basic policies. When you’ve reached the limits on your home or auto insurance, your umbrella insurance then helps cover the remaining costs.

Do You Have Enough Liability Insurance?

 

Imagine what would happen if your dog was to bite a neighbor’s child, or if there was an accident on your rental property. What would happen if a fire in your condo spread to other units?  If any of these things happened to you, there’s a good chance your current liability limits wouldn’t be adequate to protect your assets, or your future earnings.

Liability Insurance Starts When the Others Stop

Once the liability limits are exhausted on your home, auto, or other policy, your umbrella policy takes over and provides a second layer of protection of at least $1,000,000.  Higher limits may also be available. Talk with R Hobbs Insurance Agency to determine the right amount of coverage for your needs.

Broad Coverages

An umbrella insurance policy also pays some claims not covered by your home, auto, or other underlying insurance. The policy covers not just you, but your spouse and all family members living in your household, anywhere in the world. Legal defense fees are also paid.

The right coverage for you is unique – Contact us today to find out how to protect yourself, your family and your future with the right personal umbrella insurance for you. Just call (847) 680-0888 to speak with one of our agents and determine the right coverage for you.

For more information check out our blog at https://www.rhobbsinsurance.com/blog/what-is-umbrella-liability.aspx