Umbrella policies offer liability coverage over and above the limits of individual homeowners, auto, boat, watercraft, personal aircraft, and other policies. Also known as a personal umbrella policy (PUP) or excess liability protection, your umbrella policy covers claims for property damage, personal injuries, actions for libel, slander, and false arrest injuries caused by your pets, and other liability situations. Your umbrella policy can cover you and other members of your family.
At the MTC Insurance Agency Group, serving the University Place, WA area, we see five kinds of clients who usually benefit from personal umbrella protection. People who benefit from umbrella insurance protection include:
Anyone Whose Net Worth Exceeds Their Liability Protection
Standard liability riders on homeowner and auto policies generally are limited to $500,000.
If you are at fault in one of the kinds of claims mentioned above, and you have assets of more than $500,000, some personal injury lawyer will try to get them. Umbrella insurance protects your financial assets from the vast verdicts resulting from personal injury actions.
Anyone Who Entertains Guests at Their Home
Dogs and exotic pets sometimes injure guests. Accidents happen in swimming pools, and slips and falls can occur on your beautiful floors.
Umbrella coverage expands your personal inability protection to as much as $5 million—more than any litigant is likely to get in a court action against a homeowner. You can pay your judgments without tremendous losses to your savings.
Anyone Who Has a Public Profile
Do you make statements to the press or television stations? Do you write letters to the editor or maintain a YouTube channel? Umbrella insurance can pay libel judgments, which can happen even if you are careful about your public statements.
Anyone Who Travels Internationally
You can be sued when you go abroad, too. Umbrella insurance can get you out of trouble in foreign courts.
Almost anyone who has money needs a personal umbrella policy. Call the MTC Insurance Agency Group, serving University Place, WA, and the surrounding area, to arrange a time to speak with your agent about umbrella protection.
