Lucas Signorelli and his team at Daniel & Henry work with clients to put Personal Umbrella policies into place. As a client’s financial assets grow, it becomes increasingly important to protect their family using a Personal Umbrella. This is a key part of long term insurance planning, and personal financial risk management.
An Umbrella provides additional liability coverage beyond the limits of your existing insurance policies, such as your homeowners or auto insurance. The purpose of a personal umbrella policy is to provide extra protection for you and your assets in the event of a lawsuit or other legal action.
Some benefits of a personal umbrella policy include:
- Increased liability limits: A personal umbrella policy can provide additional liability coverage beyond the limits of your existing insurance policies, which can be important in the event of a large judgment or settlement.
- Protection for assets: A personal umbrella policy can provide protection for your assets, such as your home and savings, in the event that you are found liable for damages or injury.
- Protection for legal fees: A personal umbrella policy can provide coverage for legal fees, which can be important in the event that you are sued for damages or injury.
- Protection for additional exposures: A personal umbrella policy can provide coverage for additional exposures that may not be covered by your existing insurance policies, such as libel or slander.
- Protection for secondary homes and rental properties: A personal umbrella policy can provide coverage for secondary homes and rental properties, which may not be covered by your primary homeowners policy.
- Protection for recreational activities: A personal umbrella policy can provide coverage for recreational activities, such as boating or hunting, which may not be covered by your primary homeowners policy.
- Protection for personal liability: A personal umbrella policy can provide coverage for personal liability, which can be important in case of accidents or incidents that happen away from the property, such as at social events or while traveling.
- Cost-effective: Personal umbrella policies can be more cost-effective than purchasing additional coverage on your existing insurance policies.
Overall, a personal umbrella policy can provides key protection for you and your assets in the event of a lawsuit or other legal action, covering damages and liabilities that may exceed the limits of your existing insurance policies.
If you are interested in learning more about Umbrella policies, and potentially putting one into place for your family, please click below to schedule a personalized consultation with Lucas Signorelli and his team: