Does Your Personal Line Insurance Have an Umbrella?

If your personal coverage is under the same policy as your commercial insurance coverage, you should know exactly where each coverage begins and ends, and understand the gaps in between. As great as an insurance policy as you may have, there are often major gaps left that can lead to you being personally held responsible for liability and damages which could lead to a severe financial burden. To protect yourself against this risk, make sure that you add on a personal umbrella to your coverage with us at K. L. Owens & Associates LLC. 

What is a Personal Umbrella?Personal Umbrella Insurance Img

An umbrella policy protects the holder’s assets and future income in addition to his or her primary policies. Unlike excess insurance, umbrella policies are able to fill  in the gaps between underlying policies to make sure that the insured is covered on all of their exposures.

What do Personal Umbrellas Cover?

Personal umbrella policies  usually are purely liability coverage are typically sold in increments of $1 million that add on to your other insurance policies. For example, if you already hold an automotive liability policy with a limit of $200,000, with a $1 million umbrella, your limit becomes $1,200,000. Personal umbrella policies can also fill in the gaps of coverage that your other homeowners or automobile coverage don’t such as libel, slander, or invasion of privacy.

K. L. Owens & Associates recommends personal umbrella coverage for everyone. You never know when a devastating accident may occur and everything you own and all of your future income could be at risk. Protect yourself and all of your assets with the right policy.



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