Umbrellas are for more than just the beach!
As we gear up for summer, solidify those vacation plans and prep for pool openings, we took a moment to sit down with Brian Heflin, our Commercial Lines Manager and Financial Director to better understand what umbrella coverages are. You might think umbrellas are just for pool or beach trips, but in the world of insurance, they are yet another type of coverage to better protect your kingdoms!
So what is umbrella coverage? Brian explains to us that it’s simply another set of coverage that goes above and beyond what you have. For example, if you are a personal lines client and you have home and auto, you might also have a boat or a motorcycle. An umbrella policy will embrace all of those, exceeding the amount of liability coverage you already have on any of those policies. This type of coverage is another form of making sure you have that pure protection for your assets. It helps make sure that if someone were to try and sue you for something you did and were held liable for, there is extra coverage underneath your umbrella policy.
As with any policy, we know there are items that are covered and items that are not covered. When looking at an umbrella policy, the main coverage is liability. Umbrella policies will not cover rebuilding your home, auto, boat or motorcycle repairs but it will cover injury you may cause to another party. If you are held liable, your umbrella coverage comes into play.
Now you might be asking yourself why this coverage is beneficial and when should I consider looking into one? Brian explains to us that if you have assets and you want to make sure that those are protected, you are going to want to take a look into getting an umbrella policy. As you get older and start collecting more of those assets, then would be a good time to connect with your agent about setting up this type of coverage. For example, you might have multiple houses, younger kids that are now driving, a swimming pool in your backyard, you have young kids that are playing with other kids at your house, or even if you have a dog. An umbrella policy is a great coverage to have as extra protection and overall, it’s relatively inexpensive for that extra peace of mind.
Thanks again to Brian for explaining yet another valuable coverage we offer to ensure that your kingdoms are safe from peril. There’s better coverage behind our shield!
