Umbrella insurance is an add-on insurance policy, which for more, is worth buying. These policies provide additional coverage where existing insurance policies fail. For example, if you are in an accident in Bethlehem, PA, and sued for damages, your insurance policy only covers up the limits in the policy. The remaining balance of damages would be covered under an umbrella insurance policy. However, there are some things that umbrella insurance does not cover.
Get covered today and call us at Saucon Insurance Agency to discuss more options and umbrella insurance coverage.
Here are some of those things not covered by an umbrella insurance policy:
Personal umbrella insurance policies do not cover losses related to your business operation or damage to business property. This exclusion even applies if you have a home-based business. Additionally, personal umbrella insurance does not cover business-related liabilities.
Liability arising from a written or oral contract you have entered into is not typically covered under a personal umbrella insurance policy. If sued regarding these contracts, you are most likely not protected by the umbrella policy.
Criminal and Intentional Actions
Your personal umbrella insurance policy will not protect you from consequences related to any intentionally harmful or illegal actions conducted by you.
Umbrella insurance protects you against damages to someone else’s property should you be held responsible for the damage. However, umbrella insurance typically does not cover your personal property or damages to your property.
Who Needs Umbrella Insurance?
Anyone can benefit from purchasing a personal umbrella insurance policy. It is beneficial because accidents can happen to anyone at any time, and having the extra coverage provides you the protection against facing significant financial loss.
Personal umbrella insurance in Bethlehem, PA helps protect you against liability associated with accidents and damage to another person’s property. For additional information, call our agents at Saucon Insurance Agency today.