How Does a Personal Umbrella Policy Work?

A personal umbrella insurance policy, which is also called an excess liability policy, is a policy that is invoked in the event that your coverage on one of your other insurance policies is exceeded or in the event that something occurs that is not covered by your existing insurance policy. This could include claims of slander or libel, which might not be on another type of policy. Those interested in procuring additional coverage or who feel that their existing insurance policies do not have enough coverage may be interested in the purchase of an umbrella policy instead.

A personal umbrella policy only kicks in once another policy has been exhausted or in the event that the other policies do not cover the damages being claimed. However, the benefit to a personal umbrella policy is that it can take over for any other type of policy if that policy is exceeded. This means that it will effectively offer additional coverage for automobile insurance, homeowners insurance and other forms of insurance.

For more information about personal umbrella policies and whether it may be suitable to your needs contact the insurance experts at Agape Brokers Insurance Agency.


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