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Personal Umbrella Insurance

There are many different types of insurance policies that may be necessary to protect you from losses and damages for which you are held liable. Still, even a diverse and robust insurance portfolio may require additional layers of protection. With that in mind, it’s necessary to consider the benefits of personal umbrella insurance.

The insurance experts at Academy Insurance Agency possess over five decades of experience helping clients and families in Leesburg, Purcellville and the surrounding area assess their insurance needs and acquire the proper coverage.

What Is Personal Umbrella Insurance?

Personal umbrella insurance casts a wide safety net across many potential situations or circumstances. In general, these policies exist to provide additional financial aid for incidents your standard homeowners, auto or boat insurance are not capable of fully covering. As such, they won’t be triggered unless your liability limits are exhausted.

Specifically, most personal umbrella policies include protection for:

  • Bodily injury—If you are responsible for another party being hurt, your coverage may help pay for resulting medical treatment, lost income and funeral expenses.
  • Property damage—If another party’s property is damaged and you are held liable, your insurance can assist with repair or replacement costs.
  • Personal and advertising injury—If you are sued for personal and advertising injury, such as libel, slander, invasion of privacy or defamation of character, this type of coverage can provide financial aid.
  • Legal expenses—If a lawsuit is filed against you, your personal umbrella policy can help pay for your legal defense and representation.

 

Get the Right Coverage

Although standard insurance policies may provide adequate assistance for many situations, if coverage limits are exhausted and you lack a personal umbrella policy, you will have to pay the remaining costs out of pocket. Such unforeseen costs can have irreparable ramifications for your finances and your future.

Fortunately, Academy Insurance Agency is ready to help assess your specific situation and craft a personal umbrella policy suitable for your insurance needs. Contact our agents today to learn more and to receive a quote.