How do I know if I need a personal umbrella liability policy?

A personal umbrella liability policy is a very unique form of insurance that is not suited to everyone, but is very important for certain individuals. An umbrella policy is a policy that usually covers anything that exceeds an individual’s other insurance policies, and a liability policy is intended to protect individuals against lawsuits. A personal umbrella liability policy, therefore, is to help protect individuals against the damages claimed by any lawsuits that aren’t already covered by any other personal liability policy.

Most individuals will never require a personal umbrella liability policy, but high net worth individuals and individuals that are at a high risk for being sued may. This includes high profile individuals that have a lot of exposure in the media, and individuals that simply have a large amount of assets and investments. Those that feel that they need more coverage to their existing personal liability policies may wish to look into an umbrella policy as a cost-effective way to extend their existing coverage.

For more information about umbrella liability policies and other forms of personal and business insurance contact the experts at American Premier Insurance.