Liability Insurance Coverage at Schwartz Reliance
Personal Umbrella Insurance is a coverage that extends your liability insurance coverage above and beyond the typical limits found in another policy, such as auto, watercraft or home insurance. This means, if you were found liable in court and forced to pay more than your liability limit on your home or auto policy, your Personal Umbrella would provide coverage in addition to the limits on your underlying policies (Example: Home, Auto, Boat). This is incredibly useful to have for situations where your liability claim limit is maxed out by a hefty court award.
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What does our umbrella insurance cover?
Personal Umbrella coverage is an inexpensive added layer of protection and provides peace of mind. It is especially beneficial to those who fit into the following categories:
- High Net-worth Individuals â Rewards of Success and financial achievements can make you and/or your family more vulnerable to legal and financial losses. Personal Umbrella coverage provides an extra layer of liability protection beyond your personal property policies.
- Frequent Travelers (Canada, US and Worldwide Coverage) â Travel with Peace of Mind knowing that your personal actions are covered anywhere in the world.
- Volunteers â Coaching, volunteering at school, etc, can expose you to increased liability risks and legal costs not covered under a primary policy. Personal Umbrella coverage provides additional protection where personal policies may have exclusions.
- Owners of Rental Properties â Up to 4 Rental Locations can be insured for Landlord Liability.
- Pet Owners â Having a pet can expose you to liability for damages and injuries, 3rd party injuries are covered under a Personal Umbrella policy.
- Social Media Users â Lawsuits springing from social media use are becoming more common and frequent, with court awards increasing, the Personal Umbrella provides extra coverage.
Other Important Coverages Included:
- Accidental and Unintentional 3rd Party Injury
- Drop Down Excess or Gap Coverage
- Accidental Injury caused by a dependent child
- Liability Assumed by Contract
- Legal Fees
- Excess Liability Coverage for Homes, Automobiles & Watercraft