Home Page
postheader postheader postheader postheader postheader postheader

Let’s say you have a policy for your home and your family’s cars. You have just the right policy for the apartment you rent out to others as well as coverage for your boating excursions. Your homeowner's policy even has a special, added protection for the business that your spouse runs out of your home. While it looks like you have all the coverage you need; perhaps you should consider….. an umbrella.

Umbrellas are designed to be carried over a person's primary (also known as underlying) liability coverage. Primary refers to the fact that in the event of a loss, the liability portion of your auto or homeowner coverage is the first to respond. Umbrellas or excess liability policies respond to an eligible loss only after the primary insurance has paid its limit.

It's quite possible that your primary insurance limits provide more coverage than you'll ever need. However, circumstances could involve a type of loss that is not completely covered by a primary policy. For instance, your newly licensed child is driving the family car and slides on an icy highway. He ends up causing a chain collision damaging several cars and injuring a dozen drivers and their passengers. Or maybe you often volunteer to help transport members of your son's first grade class on field trips and you have an accident because you tried to beat a yellow light. If you don't have enough primary coverage, any shortage may have to come out of your personal assets.

Umbrellas generally provide additional liability coverage for the following underlying policies:

  • Personal Automobile
  • Homeowners/Farmowners
  • Recreational Vehicles
  • Watercraft
  • Personal Liability

 

The additional coverage may often extend to handling related expenses, also on an excess basis, such as the cost of providing a court defense. Please see Umbrella Coverages - Part 2 for more information.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
   

HOME PAGE ABOUT US GET A QUOTE REFER A FRIEND CONTACT US

125 W La Cadena Dr. Suite B | Riverside, CA 92501 | Phone: 951-684-3500 | Fax: 951-684-3578 | tim@ria-cb.com

Logo
Powered by Insurance Website Builder
 Facebook Icon LinkedIn Blog