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TrueNorth Explains Umbrella Insurance

posted by TrueNorth Risk Management on Wednesday, May 25, 2016

TrueNorth Explains Umbrella Insurance

In the event that someone is injured on your property and you are found legally responsible, you could be faced with a costly financial burden. In fact, without a personal umbrella liability insurance policy, any expenses beyond the limits of your standard policy are your responsibility. This applies to your homeowners, renters, automobile and watercraft insurance policies. 

Personal umbrella liability insurance provides an extra layer of protection over your personal assets for when your standard liability coverage is exhausted. 

Engaging in everyday activities can put you at risk for a lawsuit.

Simple things like having a swimming pool or entertaining guests in your home can increase the chance that someone will get injured and sue you. To minimize your risk, consider a personal umbrella liability policy. 

Why is a personal liability policy important?

It works to fill the gaps in your coverage and provides the following benefits: 

  • When litigation ensues, it's typically for a large amount. If you get into a car accident and injure several people, you could be sued for millions of dollars; well beyond the limits of your automobile policy. You can also be held responsible if your dog bites someone, if your child injures another kid in a fight at school or if a handyman hurts himself in your home. 
  • Umbrella policies cover legal fees because the insurance company assumes the risk, not you. 
  • Coverage is inexpensive and easy to obtain. Just give us a call to add it to your current policy. 
  • You'll have peace of mind knowing that you are covered in case of a fluke occurrence. 

TrueNorth will Protect you in a Downpour

Why put your nest egg, retirement savings and other hard-earned assets at risk? Umbrella insurance is an affordable layer of protection typically starting with $1 million in coverage, with additional coverage available if your financial situation changes. Contact TrueNorth  today at 1.800.798.4080  for more information.

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