Umbrella Coverage Information
Liability is one of the main dangers that businesses and individuals face alike. Liability refers to responsibility for accidents and the possible lawsuits that could occur due to an accident. However, your general liability and other policies may not be enough to cover legal expenses and other costs that may come after an accident, which is where umbrella liability insurance comes in.
ProtectALL Insurance helps individuals and business owners protect their assets with comprehensive and affordable umbrella insurance. We will help you evaluate your liability risk so that you can find the best policy for the utmost protection.
What Does Umbrella Liability Insurance Cover?
An umbrella insurance policy applies to any of your other liability insurance policies. It can fill in the gaps left by your liability insurance such as:
General Liability: General liability insurance covers claims regarding bodily injury, property damage and personal and advertising injury. If someone is injured on your business’ property, this insurance can help pay for medical bills and related lawsuits. It also covers claims regarding libel, slander, copyright infringement and more.
Professional Liability: Professional liability insurance covers claims against your business concerning professional negligence. For example, if you are an accountant and you make a mistake that causes your client to lose a significant amount of money, professional liability insurance can help cover a potential lawsuit.
Auto Insurance Liability: Both personal auto insurance policies and commercial auto insurance policies offer some form of liability. While only a certain amount of bodily injury and property damage liability is required for drivers, these minimum requirements aren’t always enough to cover damages incurred in an accident.
How Does Umbrella Insurance Work?
Say you own a hospital and carry a professional liability insurance policy (known as medical malpractice in the field) worth $1 million. During surgery, one of your surgeons makes a mistake. When the patient wakes, they’re in excruciating pain and have to undergo another surgery to fix the damage done.
The victim decides to sue for the pain and extra procedure. With everything considered, the lawsuit will cost $2.5 million. In this case, umbrella liability insurance can help step in to cover the remaining $1.5 million not covered by your professional liability insurance policy.
Get Umbrella Liability Insurance Today
Keep your assets safe with umbrella liability insurance through ProtectAll Insurance. Call us at (833) 377-6832 or fill out a quote form to get started today.
Common Umbrella Insurance Questions
How Much Umbrella Insurance Do I Need?
Everyone’s liability needs are different. Speak with an insurance agent about the right limits of umbrella insurance you may need.
How Much Does Umbrella Insurance Cost?
The cost of umbrella insurance varies depending on several factors such as your location, coverage limits, past claims and more. Fill out a
to find out how much you can save on umbrella liability insurance.
How Much Umbrella Insurance Do I Need for Rental Property?
If you rent a property for personal or work purposes, you may already have general liability insurance. Umbrella liability insurance can supplement your general liability insurance in order to cover expensive accidents. Connect with an insurance agent about insuring your rental property.
How Much Umbrella Insurance Do I Need as a Landlord?
As a landlord, you probably already have insurance to help cover your legal liability for a variety of accidents and incidents. Since every landlord’s exposure to risk is different, it’s crucial to discuss your situation and your concerns with your agent. They can help you determine whether an umbrella policy may be appropriate to help cover potential claims that exceed the legal limits of your current liability coverage.