Why Purchasing a Personal Umbrella Policy is a Wise Decision

Why Purchasing a Personal Umbrella Policy is a Wise Decision

One of the most important insurance policies you can buy is the personal umbrella policy, but many people are unaware they need one. This policy provides high limits of liability to protect you against a catastrophic liability loss. It pays after your homeowners or personal auto policies' limits have been exhausted. I have attached some Umbrella Insurance Scenarios as examples for illustrative purposes.

In particular, you should consider purchasing a personal umbrella policy if you have certain characteristics or engage in certain activities, including the following:

• Your total assets are greater than your underlying liability limits.

• You are financially responsible for the actions of a young, inexperienced driver.

• You live in an exclusive and affluent neighborhood.

• You have a high profile career or high income.

• You frequently host guests on your property.

• Your residence includes a swimming pool.

• You own waterfront property, a farm, or a ranch.

• You own watercraft or aircraft.

• You own numerous rental properties.

• You engage in extensive international travel for pleasure.

"Disclaimer: The content contained in this blog is for informational purposes only. It should not be considered insurance advice since every client's needs and circumstances are different.. Bergen Insurance Group, LLC makes no representation as to accuracy, completeness, currentness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All statements represent the sole opinion of the author and is provided on an as-is basis. For an actual description of all coverages, terms and conditions, refer to your insurance policy.”