What Is Personal Umbrella Insurance?
Personal umbrella insurance can help protect your assets when the liability coverage on your property or auto policy is maxed out. Simply put, it's extra liability protection for unexpected events.
How Personal Umbrella Insurance Works.
Let's say a guest is injured in your home, apartment, condo or mobile home. And that guest sues you for a $1 million dollars because the accident happened on your property. It's likely your property insurance includes some liability coverage to help protect you in an event like this. However, that liability coverage has a maximum limit, and you may owe more than that. If you had personal umbrella insurance, it could help cover you beyond your other policies' limits.
Why Would You Want Personal Umbrella Insurance?
Personal umbrella insurance isn't just for wealthy people. If you're sued, all of your assets could be at risk, such as your retirement accounts, your children's college fund and any real estate assets you have. Purchasing personal umbrella insurance can help protect those assets if you're found liable in an accident.
Understanding Personal Umbrella Insurance Details.
Typically, THPG offers personal umbrella insurance limits between $1 million and $5 million. Your policy could also help cover you in the following situations:
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- If you're sued over an incident covered by your personal umbrella insurance, THPG may retain and pay for your attorney.
- You're protected even when you're out of the country.
- You could be covered for any wages lost due to a court appearance, up to the limits specified in your policy.
for more information about personal umbrella insurance and how it can help protect you.
Insurance, coverage and discounts are subject to terms and conditions, which may vary by state. Discount amounts and total savings will vary.