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UMBRELLA INSURANCE
You don’t have to be a millionaire to want to protect your hard earned dreams and future. And you don’t have to be a millionaire to get sued like one. Anyone can find themselves at the wrong end of a liability lawsuit. With Personal Umbrella Liability Insurance, you add on an extra layer of coverage to protect all the things you worked hard for.
As Independent Insurance Agents in Florida, we will be able to shop your personal umbrella policy with top rated carriers and find the extra coverages you need at a competitive price. You never know when an accident will happen, but you can prepare for the unexpected.
Let the team at John Galt Insurance help safeguard your assets and financial future with a personalized umbrella insurance policy. Let us work for you!
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John Galt Insurance is a Florida Independent Insurance Agency which means you have the power to choose! Most importantly, you get the benefits from making smart choices when it comes to the coverages you need to fully protect your most valuable items. That’s why we are the perfect match for you. Whether it’s comparing insurance plans continually, finding you the best rates or guiding you through the process if you so happen to need to file a claim, we always have you covered! After all, we work for you and not the insurance carriers.
With our network of top rated Insurance Carriers in Florida and our knowledge and expertise in Florida Umbrella Insurance, you can rest assured we can take care of all your insurance needs.
Think of a personal umbrella insurance policy as an additional financial safety net. You hope that you will never need it but an umbrella policy provides significant protection of your assets and your future, as well as peace of mind!
An Umbrella Insurance Policy is secondary insurance that is designed to significantly increase the personal liability coverage provided by the insurance products you already have.
Typically, Umbrella Insurance Policies start at $1 million of extra liability insurance. This coverage can typically be increased in $1 million increments.
Umbrella Insurance is vital if you are responsible for someone else’s injuries, property damage, or financial losses. If you have purchased an Umbrella Policy, are liable for an accident and if your liability obligations exceed what your primary insurance policy can cover, your umbrella insurance policy can cover the overages up to its own coverage limits.
COVERAGES
You never know when it’s going to rain. Just like what the name implies, this type of insurance policy acts like an umbrella. Umbrella Insurance provides protection against a wide range of potential financial dangers and unforeseeable mishaps. It can also kick in to pay for third-party damages beyond your existing policies’ limits.
Typically, Umbrella Liability Coverages include:
Personal umbrella insurance doesn’t cover things like lawsuits, personal losses, or compensatory damages such as:
Medical costs for treating your injuries
Costs for replacing/repairing your lost, damaged or stolen property
Third-party injury or property damage arising from your own criminal acts
Liabilities related to contractual agreements
Below are 7 common lawsuits that are covered by a Personal Umbrella Insurance policy.
Getting sued in court can result in overwhelming attorney fees, investigations, legal paperwork, and court fees. Having Umbrella Insurance can cover these defense costs so you do not have to pay for them out of pocket. After the coverage pays for your own legal defense, the remainder of the coverage can also settle the liability expenses if you’re found liable.
Liability claims can be brought against you for situations that occur in your home like if your friend’s child accidentally drowned in your home pool or is injured while playing on the trampoline with your kids. If your homeowners’ liability limit is below the claim that was filed against you, your umbrella coverage can step in to fill that gap.
In states like Florida, serving alcohol to guests at your home during a party exposes the host to partial liability. If one of those guests becomes too intoxicated and causes injury to another person, the victim may blame the host. Umbrella insurance can cover this liability in states like Florida with social host liability laws.
If you are out walking your dog and it becomes aggressive and bites someone or another dog, Umbrella coverage can help pay for injury claims
Accident statistics reports that teen drivers are at the highest risk of being involved in serious car crashes. When you add your 16-year-old to your auto policy, you increase your liability risk. With Umbrella Insurance, you can expand coverage beyond your existing auto liability limit. It’s also a cheaper way to address the extra risk than adding the liability on your existing auto policy.
Typically, injury liability cases go hand in hand with pain and suffering claims (besides medical costs). Umbrella insurance can cover the additional liabilities that may arise.
If you are held liable for defaming someone or liable for someone’s false arrest, Umbrella insurance can help pay for your legal defense expenses.
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You have questions, we have answers.
You may be thinking “I have auto insurance and homeowners insurance that covers some of these situations, do I need an umbrella policy?” While auto and homeowners insurance helps you in this situations but an umbrella insurance policy insures you above and beyond the limits of those policies and covers some situations not covered by the other types of policies.
You will want an Umbrella Insurance Policy if:
– You’re a homeowner
– You regularly host parties or have guests over
– You have a pool or trampoline
– You volunteer / work with the community
Umbrella Insurance Coverages varies from person to person. You will want to think about all of your assets. Depending on the worth of your assets and how much you want to protect them, you may want a different level of umbrella insurance than someone else. Typically, Umbrella policies are available in increments of $1 million. If you are not sure whether you need a $1 million or $5 million policy, give us a call and our agents can help guide you in the right direction.
Yes! Both libel and slander fall under a coverage type called “personal injury.” Personal Injury is included in an umbrella policy in addition to bodily injury and property damage coverages. Personal injury might sound the same as bodily injury, but it actually refers to injuries that arise out of offenses such as false arrest, detention, imprisonment, libel, and slander.
An umbrella policy can add $1 million in coverage to several policies or where raising limits is not an option. It may cost less than raising limits individually. Umbrella Insurance may cover situations that your other policies may not, such as slander lawsuits or libel lawsuits. Also, Umbrella Insurance can cover the cost of your legal defense in case you find yourself in the middle of a liability lawsuit.
You don’t have to own a home to need Umbrella Insurance. Renters can certainly find an umbrella policy helpful. It all comes down to your own personal level of risk, the total value of your assets, and the limits of your existing coverages.
Protecting you from lawsuits for bodily injury, property damage, or personal injury is one of the primary used for Umbrella Insurance. Keep in mind, there are limits and exceptions to the types of lawsuits an umbrella policy will cover. For example, your umbrella policy is not likely to cover you if you’re being sued for intentionally breaking your neighbor’s windows because they didn’t turn their music down last night.
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