While you might have auto, boat, or home insurance, you need extra liability protection to cover you when your current insurance plans run dry. Wondering how? When you purchase umbrella insurance from Tommelleo & Associates, serving Pennsylvania and the surrounding areas, it gives you additional protection, protecting your assets and future earnings.
What is umbrella insurance?
Imagine if a fire in your condo spreads to neighboring condos? Suppose your dog bites a neighbor? Yes, you might have home or condo insurance, but these might not be enough to cover the emanating liabilities. In such instances, your properties or future earnings will be at stake.
Fortunately, umbrella insurance can come to the rescue when your typical liability coverages run out. Simply put, umbrella insurance is excess liability insurance that covers businesses and individuals for claims exceeding the current liability coverages.
What does umbrella insurance cover?
Umbrella insurance gives you protection even for claims not covered by other liability coverages. However, broadly, umbrella insurance covers the below:
- Property damage: If you cause property damage to a third party, and your boat, auto, or home insurance policy limit has been reached, umbrella insurance kicks in to cover the difference.
- Bodily injury liability coverage: Pays for medical costs and legal costs for injuries caused to other persons. Examples include your dog biting someone, a guest injuring themselves in your home or business premises, or a severe boat or auto accident where you are at fault.
- Personal liability: Unlike your standard liability coverages, umbrella insurance covers you against liabilities like malicious prosecution, slander/libel, and false arrest that aren’t included in your base insurance policies.
What does umbrella insurance not cover?
Umbrella insurance won’t protect you in the following instances:
- Your injuries or damage to your property
- Intentional or criminal acts
- Loss of business income
- Claims from dishonored contracts
Are you looking for umbrella insurance? Don’t look beyond Tommelleo & Associates, located in Pennsylvania. Contact us today, and our team shall help you purchase extra liability protection.