Question By: Umbrella insurance is extra insurance that provides protection beyond existing limits and coverages of other policies. Umbrella insurance can provide coverage for injuries, property damage, certain lawsuits, and personal liability situations. Umbrella insurance may provide coverage when your homeowners, auto, and boat insurance policies limits are exhausted. Umbrella insurance provides coverage for claims that may be excluded by other liability policies including claims like false arrest, libel, slander, and liability coverage on rental units you own. Personal Umbrella policies are inexpensive and provide an extra layer of protection if your underlying auto or home policy limits are exhausted. Many umbrella policies cost less than a family night out with dinner and a movie at the theater and have broader coverage than the auto and home insurance policies.
Umbrella Policy Coverage Examples:
Bodily injury liability : covers the injuries sustained by another person because of the accident. Examples include the cost of medical bills and/or liability claims due to injuries caused by:
A serious auto accident where you're at fault
Harm caused to others by your dog*
A guest in your home falls
A neighbor's child falls while playing in your yard
Property damage liability : covers the cost of damage or loss to another person's tangible property. Examples include the cost associated with damage to vehicles and other property due to an auto accident where you are at fault.
Owners of rental units help protect against liability that you may face as a landlord. Examples include the cost of liability claims due to:
Someone tripping over a crack in the sidewalk of your rental property and suing you for damages
Your tenant's dog* biting someone and you being held responsible for the injuries
Coverage is also provided if you're sued for:
Slander: An injurious spoken statement
Libel: An injurious written statement
False arrest, detention, or imprisonment
Malicious prosecution
Shock/mental anguish
Visit https://midwestinsurancegroup.com/personal-insurance/umbrella-insurance/ To discuss your policy and coverage options, give us a call today at 262-646-5777.
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