Personal Umbrella Insurance in Salt Lake, UT and surrounding areas
Most personal insurance policies include some liability coverage. However, if you want higher liability benefits than a standard liability policy, you should consider an umbrella liability policy. In cases of substantial liability claims, you will gain quality, far-reaching benefits.
To get customized insurance benefits that make your future secure, clients throughout Salt Lake City and all of Utah trust Tebbs Brothers Insurance Group. Get affordable and versatile coverage that is ready to work for you when you need it. Call us at 801-278-8881 for your free, no-obligation quote.
Common Umbrella Insurance Questions
What Is Umbrella Insurance?
If you have to take responsibility for the harm you caused to another person, a standard liability insurance policy will protect you. For example, if you caused a car wreck, your auto liability policy should pay for damage or injuries that the accident caused another driver.
However, all standard liability policies only pay up to certain limits. If your claim exceeds that limit, you could potentially have to cover the remaining third-party costs out of pocket. But you can file a claim against that plan for the residual value remaining in the third party’s claim if you have personal umbrella insurance.
What Does An Umbrella Liability Policy Cover?
Umbrella insurance gives you the mechanism to settle your differences with others without subjecting yourself to substantial financial strain. You never know when a liability claim will exceed your policy’s limits, but umbrella coverage can help you be prepared for anything.
A single personal umbrella policy can be used in conjunction with numerous policies at the same time, including:
You need to file a claim against your standard liability policy first. Once that policy has maxed out its benefits, you can use your umbrella policy to cover the difference.
Most policies offer at least $1 million in additional protection, and many will cover liabilities that aren’t covered by your primary policies.
Why Do You Need Umbrella Insurance?
You will gain a significant amount of additional protection by getting a personal umbrella policy. The benefit of having umbrella insurance is that you never know you need it until you do.
Suppose that you have homeowners insurance with a liability limit of $500,000. However, a neighbor falls down your steps, sustains a severe injury and sues you for $2 million worth of medical bills, lost income and other damages. That’s a $1.5 million difference between what you owe this neighbor and what your homeowners liability policy will pay; your umbrella policy can cover the difference.
When Should You Get Umbrella Insurance?
An umbrella policy is affordable, flexible and easy to integrate into your insurance portfolio. You will be glad that you have this benefit if the need ever arises where you have to use it.
What Does Commercial Umbrella Insurance Cost?
The cost of a commercial umbrella policy is affected by various factors, but most are highly affordable and easily integrated into your overhead budget. Let us meet and discuss your coverage and price objectives to provide you with the best offering within our carrier network.
At Tebbs Brothers Insurance Group, we are committed to keeping you as financially secure as possible after challenging losses. We can make sure your umbrella liability policy always provides you optimized protection.