Personal umbrella insurance can help you survive a lawsuit without losing everything you own.
All insurance policies have limits. If you are at fault for a car accident or if someone injures themselves on your property, you probably have insurance that will cover the damages. But what happens if you are sued for damages that exceed your policy limits? That is where personal umbrella insurance kicks in.
According to the Motley Fool, an internet financial company, most people should not skimp on personal umbrella insurance. At James P. Murphy & Associates, we agree with this sentiment and are here to provide affordable umbrella insurance solutions.
Umbrella insurance provides additional liability coverage above the limits of common insurance policies but can also provide coverage for claims that may be excluded by the these policies. These claims include things like:
- False arrest
- False imprisonment
- Wrongful entry
- Invasion of privacy
Umbrella insurance is the most cost-effective way to raise your liability limits and almost everyone would benefit from carrying this policy. If you own a swimming pool, hot tub, trampoline, swing set, or even pets, you should consider an umbrella policy. Give us a call today to find out how you can protect yourself with umbrella insurance.