Category ArchivePersonal Umbrella Insurance

Daniels Insurance

What Is Personal Umbrella Insurance?

If you’re in your 20s or 30s and trying to determine which insurance is necessary for this point in your life, you may be feeling a little discombobulated. One way to make sure that you have all the coverage you need is to purchase a personal umbrella policy.

What It Is

Umbrella insurance is a type of policy that covers you from claims or lawsuits across a variety of situations. It may cover anything from homeowners’ insurance to boat insurance and can protect you from situations not generally covered by liability, such as false arrest or libel and slander. Source: Daniels Insurance

How It Protects You

Umbrella insurance protects you when your other policies can’t. Imagine, for example, that your home catches on fire. Chances are your homeowners’ policy only covers a certain amount of damages. If your home has $750,000 of damage, but your policy only covers $500,000, you’re on the hook for the remainder. However, an umbrella policy can cover that additional $250,000 so that you aren’t scrambling to pull it out of pocket some other way.
If you do decide that umbrella insurance in Santa Fe is right for you, be sure to purchase it from a reputable, licensed agency. This way, you know that your needs are being met and aren’t met with any unpleasant surprises in an emergency.