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Umbrella Insurance

Umbrella Insurance

In simple terms, umbrella insurance is additional liability coverage that helps to protect you from huge claims as well as lawsuits. This insurance cover provides extra liability insurance beyond the limits of other insurance policies you have like auto and homeowners. Your umbrella insurance comes in when the liability on those other policies is worn.

More so, this type of insurance policies gives you cover for claims that might be left out by other liability insurance policies. Such claims include false arrest, slander, libel and liability insurance on any rental units you own.

Preferred Partners Insurance, Florida offers you affordable insurance policies, contact us today and start the journey.

Coverage Options

Umbrella insurance insures you against bodily injury, property damage, specifies lawsuits and some personal liability situations. Yes, your auto, boat and home insurance covers some of those personal liability situations, but you should know that umbrella insurance covers you beyond the limits of those common policies.

There are different coverage options provided by an umbrella insurance policy such as:

1. Bodily injury liability: insures you for the cost of covering medical bills and /or resultant liability claims resulting from scenarios such as:

  • injuries to other people due to a car accident where it was your fault,
  • harm caused to other people by your dog,
  • injuries experienced by a visitor in your home as a result of falling,
  • injuries experienced by your neighbor’s child due to falling on your property while playing.

2. Property damage liability: insures you for the cost of damage caused to another person’s physical property. Examples of such cases are:

  • Damage caused to someone’s vehicle and other tangible property due to an auto accident that was your fault.
  • Damage claims as a result of your dog gnawing at your neighbor’s valuable property.
  • Your child damaging the school’s property accidentally.

3. Rental units owner: ensures you against liability you may face as an owner of rental units. Liability claims may be resultant of some situations like:

  • Somebody tripping due to a fault in your building’s floor and suing you for damages sustained.
  • A tenant’s dog causing harm on somebody, and you being blamed for the injuries.

Preferred Partners Insurance, Florida is a trusted insurance agency that provides insurance services. Contact us today and let us help you in your insurance questions.