Umbrella insurance is a personal excess liability insurance policy that protects you above and beyond the limits on your homeowners or condo insurance, car insurance, watercraft or other personal insurance policies. Umbrella insurance is designed to give you added liability protection for lawsuits, and claims that rise against you. It is an inexpensive way to protect your financial future or established assets.
Umbrella insurance is a secondary form of insurance, that requires a primary policy, or an underlying liability policy to first pay out on a claim before umbrella liability coverage becomes effective. For example, a home insurance policy provides the primary liability for a loss, once the amount of money in the homeowner personal liability is exhausted or maxed out, then the umbrella insurance kicks in. Umbrella insurance may also be referred to as excess liability insurance.
Umbrella liability insurance can protect you from litigation arising from property damage, injury, and associated legal defense costs if you get sued for damages to other people's property or injuries.
There's no shortage of unforeseen circumstances that could impose a real risk to your family's assets and financial future. Personal Umbrella protection is critical coverage, designed to help protect you from life's unexpected events.
A personal umbrella policy can help protect you in situations, such as:
o Bodily injury liability
o Landlord liability
o Slander and libel
o Property damage liability
(damage or loss you cause to another party's property)
Our house guest was injured when she slipped on our front step. We were so glad we had our Personal Umbrella policy.
I was in a car accident and it was my fault. Our Personal Umbrella policy covered where our auto insurance policy left off. What a relief during this stressful occurrence.
Barry G. Gustafson Agency
4308 N. Garfield Avenue
Loveland, CO 80538
Monday - Friday 8:00am - 5:00pm