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Benefits of a Personal Umbrella Policy

Benefits of a Personal Umbrella Policy

A personal umbrella policy is designed to provide you with added insurance when your primary policies aren’t enough. A typical homeowners insurance policy has about $100,000 of personal liability. Medical costs could quickly use up most of that amount, leaving you liable for any costs above that amount. If you had umbrella insurance from Olson Insurance Agency, you would most likely be covered.

An umbrella policy is often an affordable asset protection. It’s not only for the wealthy, but for anyone who is concerned about a lawsuit that could wipe out his or her finances. Umbrella policies can be an added peace of mind in your insurance portfolio. Umbrella policies can also cover legal expenses and judgements if you are sued. Some policies even protect you against things that have nothing to do with your car or home, such as libel, invasion of privacy or false arrest. It depends on the policy and its exclusions and coverage.

In today’s litigious society, anyone with assets can be at risk for being sued. An umbrella policy can fill in gaps that your regular policies won’t cover. At Olson Insurance Agency, you can work with your agent to determine if an umbrella policy would benefit your bottom line. If you need comprehensive coverage to protect your personal assets, an umbrella policy could be what you need.