What is umbrella insurance?
Umbrella insurance is supplementary insurance that provides protection outside of existing borders և outside the scope of other policies. Umbrella insurance can cover injuries, property damage, certain litigation և personal liability situations.
How does umbrella insurance policy work?
Umbrella insurance policy helps to protect your assets և your future with two possible eggs.
- Umbrella insurance can provide coverage when your homeowner, car or boat insurance policy limits are met.
- Umbrella insurance covers claims that may be excluded by other liability policies, including claims such as fraudulent arrest, defamation, defamation, and liability coverage of your rental units.
What does umbrella insurance cover?
Umbrella insurance provides coverage outside of your other insurance policies or for claims that may not be covered by your liability policy. Umbrella insurance usually provides liability coverage:
- Damage to property
- Certain claims
- Personal liability situations
Who needs umbrella insurance?
Do you think? “I have car and homeowner insurance that covers some of these situations.” That’s right! But umbrella insurance covers you beyond those policies, covering some situations that are not covered by other types of policies. Call us at (866) 272-5192 to get an umbrella insurance quote today. prices are lower than you think.
Examples of umbrella policy coverage.
Responsibility for bodily injury covers the injuries received by another person as a result of the accident. Examples include the cost of medical bills and / or liability requirements due to injuries.
- Serious car accident where you are to blame
- Damage done to others by your dog *
- There is a guest in your house
- A neighbor’s child fell while playing in your yard
Liability for property damage covers the cost of damage or loss of another person’s property. Examples include costs associated with a car accident – damage to vehicles or other property where you are at fault.
Owners of rental units help protect yourself from the responsibilities you may face as a landlord. Examples include the value of liability claims due to:
- Someone slips on the sidewalk of your rented property and sues you for damages
- Your tenant dog * bites someone և you are responsible for injuries
Coverage is provided if you are sued for the following:
- Defamation. an insulting statement
- Defamation. Offensive written statement
- False arrest, detention or imprisonment
- Malicious persecution
- Shock / anxiety
What is not covered by the umbrella policy?
Umbrella policy usually does not cover the following:
- your injuries or damage to your personal property
- a criminal or intentional act that has harmed another person
- an obligation that you assume under the contract
How can umbrella insurance help protect you?
Let’s look at an example to help you better understand how umbrella policies work to protect you. Suppose you caused a car accident and the injuries to others cost $ 500,000. Let’s also say that your car insurance bodily injury limits are $ 300,000. Your car policy will compensate you for $ 300,000 in injuries. But who will pay the remaining $ 200,000?
Your umbrella insurance policy will be: It will cover the amount above the limit set in your car insurance policy up to the limit chosen for your umbrella policy.
Here is the total cost distribution where your auto insurance limits can be exceeded, և how can umbrella insurance protect you?
|The total cost of the car accident||$ 500,000:|
|Car Insurance – Boundary Injury Limit||$ 300,000:|
|Umbrella insurance||$ 200,000:|
Isn’t that the peace of mind you want? Get the price of free umbrella insurance by calling (866) 272-5192.
How much does umbrella insurance cost?
The cost of an umbrella policy depends in part on how much coverage you choose to buy. There are other factors, such as your location, the number of vehicles you own, the types, if you have multiple homes, and other items that may affect umbrella policy premiums. Our umbrella insurance agents can help you get a policy that fits your needs.
GEICO requires a minimum injury limit of $ 300,000 / $ 300,000 և property damage limit of $ 100,000 or $ 250,000 / $ 500,000 և property damage limit of $ 100,000 for your car policy to comply with the umbrella policy. Homeowners / Tenants Liability Coverage is also required $ 300,000. Contact us to get quotes for increased car insurance limits.
* Restrictions և Exceptions apply. not all breeds or animals are covered. See the policy agreement or contact us for details.
The above is intended as general information ընդհանուր as general policy descriptions to help you understand the different types of coverage. These descriptions do not apply to any specific insurance contract, do not change any definition, exclusion or any other provision expressly stated in any insurance contract. Coverage is subject to policy terms, conditions, restrictions, exceptions, placement review, approval, and may not be available for all risks. Prices և discounts are different, determined by many factors են subject to change. For full details, including exceptions և restrictions, please refer to the policy you will receive when purchasing coverage. We encourage you to talk to your insurance agent և read your policy agreement to fully understand your coverage. Umbrella policies sold by GEICO can be signed by either GEICO General Insurance Company, State Employees Insurance Company or RLI Insurance Company (https://www.rlicorp.com), which is an unrelated partner. Umbrella insurance requirements for policies signed by RLI Insurance Company are developed by RLI Insurance Company.