Personal umbrella insurance is additional coverage that can provide extra protection for your assets. It supplements your liability policies, such as a car or homeowner’s insurance in Bethlehem, PA. While it’s not always necessary to have umbrella coverage, there are certain situations where it can be a real lifesaver. Here’s a breakdown of when you should get personal umbrella insurance.
What Does Umbrella Insurance Cover?
Umbrella insurance protects you against claims resulting from accidents or negligence. It typically includes protection against libel, slander, bodily injury, and property damage claims. It provides extra coverage above and beyond the limits of your existing auto and home liability policies. This means that if someone were to sue you and win, the damages awarded would be covered up to the amount of your policy limit. A Saucon Insurance Agency representative can help you determine how much coverage is necessary for your situation.
When Should I Get Umbrella Insurance?
It’s important to know that you don’t need personal umbrella insurance immediately—it is more of an extra precautionary measure than anything else. That said, here are some situations in which having umbrella coverage might be wise:
- Owning a lot of expensive assets, such as jewelry or artwork
- Having multiple homes or rental properties
- Taking part in activities that involve increased risk
- Playing sports
- Frequently travel for business
- Own a business with more than one employee
In short, if someone could make a claim against you for damages because of negligence, then getting personal umbrella insurance is probably a good idea—to be on the safe side!
If you’re looking for additional protection for yourself and your assets in Bethlehem, PA, contact Saucon Insurance Agency today.