5 Reasons Why You Should Protect Yourself with a Personal Umbrella Policy

Your auto and homeowners insurance policies likely provide substantial liability limits, especially if you already have Acuity insurance, but you may need a personal umbrella policy for complete protection. A typical homeowners policy covers most anything that happens to your home or the belongings inside, but it may not provide the necessary coverage for injuries that occur on your property. For example, if a neighbor’s child climbs your tree and falls and breaks his or her arm, you may be liable for hundreds of thousands of dollars in medical bills, punitive damages, and court fees. You have a lot to lose in severe cases such as this, and you need to be adequately protected.

A personal umbrella policy is an insurance policy that extends the liability coverage provided by your auto, homeowners, motorcycle, recreational vehicle, and boat policies. Umbrella policies provide higher limits, broaden coverage, and pay for the costs of legal defense you may incur after your basic insurance policy limits are exhausted.

Five reasons why you should get a personal umbrella policy today:

1. Protects your assets - All your assets are protected in case of an unforeseen accident. This includes your car, house, investments, retirement accounts, checking and savings accounts, and even future income.
2. Protects you. You are protected for incidents that you might not even consider, such as if you are liable for injuries while traveling abroad, or for any rentals, such as a boat, Jet Ski, or car provided by your employer.
3. Provides peace of mind - The policy will provide the peace of mind that you, your loved ones, and your assets are protected against large lawsuits.
4. Pays legal fees - The costs of legal defense can be staggering and must be paid even if you win.  A personal umbrella policy pays these fees in addition to your umbrella limit of insurance.
5. Protects your charity work - If you are an active member in your community or with a local nonprofit charitable, religious, or civic organization, most companies automatically cover you if anything happens while you are volunteering for the organization.

If you don’t have a personal umbrella policy, or if you want to talk to us about your existing policy,  contact Acuity today. You can also get a home and auto insurance quote online and talk to one of our independent agents about adding the umbrella protection you need.