It’s great that the property owner has gone through the steps to obtain home insurance, auto coverage, and a range of other policies designed to provide protection when a covered event takes place. Along with those measures, it makes sense to talk with a representative from the local Insurance Agency in Grafton MA about an additional form of coverage. That type of plan is known as personal umbrella insurance. Here are some things homeowners need to know about this kind of coverage and what it accomplishes.
Understanding the Basics of Personal Umbrella Coverage
As the agent from the local insurance agency in Grafton MA will explain, personal umbrella insurance goes beyond the range of protection offered by the policies already in place. In a sense, this policy picks up where the others leave off. That means if some type of covered event leaves the home in shambles, the effort to rebuild is not hampered by the limits found in the home insurance plan. Thanks to the umbrella plan, there will be additional benefits that make it easier to undo the damage and get the home back to normal.
Additional Coverage for Personal Liability
This type of plan also provides more protection when some types of personal liability issues arise. Consider what happens if the covered party causes an auto accident that leaves someone with serious injuries. While the liability clause in the auto insurance will cover a portion of the medical and related expenses, there is still a significant amount of debt that must be settled. The umbrella plan provides more liability coverage that will step in when the benefits provided by the auto insurance are exhausted.
The same holds true if a visitor is injured while at the home. The protections found in the home insurance policy will be exhausted first, then the benefits offered by the umbrella policy will take over. The result will be that the expenses are covered in full and the homeowner does not face the possibility of having to file for bankruptcy or lose the house.
To learn more about personal umbrella coverage, Browse our website today and arrange to talk with an agent. Coverage of this type is more affordable than most people think.