Personal Umbrella Insurance in Boynton Beach and Stuart, Florida
Life can throw unexpected situations at you without warning, and if you aren’t properly prepared, accidents and other incidents could have dire financial consequences. Scenarios involving other parties, such as guests and neighbors, can be particularly problematic, as you might be blamed for their injuries or losses and face subsequent legal action. These unpleasant but possible realities may necessitate personal umbrella insurance. 
What Is Personal Umbrella Insurance?
You’re likely aware of how liability coverage works in insurance, as you’ve probably seen such terminology in your homeowners, renters or auto insurance policies. But what if an incident causes particularly costly third-party losses? If your other insurance coverage lacks sufficient limits to pay for such losses, you might face extensive out-of-pocket costs and could even have your assets seized. Fortunately, personal umbrella insurance establishes a secondary layer of liability coverage for these situations.
What Does It Cover?
Personal umbrella insurance may offer multifaceted financial protection against the repercussions of many common incidents, including bodily injuries and property damage. Additionally, they may cover incidents for which other members of your household were to blame, including your spouse, children and pets.
Why Do I Need an Umbrella Policy?
Consider how a personal umbrella insurance policy’s additional liability coverage may pay dividends in the following real-life situations:
- Guest injuries—Imagine you’re hosting a party at your home and a fire breaks out. You could be held liable for guests’ medical costs, which may easily exceed your homeowners insurance’s personal liability coverage limits.
- Automobile accidents—Your personal auto insurance can help offset other motorists’ losses if you’re at fault in an accident, but those involving several vehicles or particularly severe injuries could require additional coverage beyond the capabilities of your auto policy.
- Reputational harm claims—Personal umbrella insurance can also cover certain incidents not included in standard homeowners or renters insurance, such as if you’re accused of tarnishing a local business’s reputation. Without an umbrella policy, you’d have to manage resulting expenses and losses out of pocket.
We’re Here to Help
At Wiglesworth-Rindom Insurance Agency, we can help you understand the value of personal umbrella insurance and secure appropriate coverage. Contact us today to begin.