Personal Umbrella Policy Insurance

Fingar Insurance provide homeowner insurance in Columbia and Greene counties of NY

Personal Umbrella Policy (PUP)

Umbrella liability coverage is an extra layer of very affordable liability protection over existing homeowners, renters and auto insurance policies.  Let’s say a guest is injured in your home, apartment, condo or mobile home. And that guest sues you for $1 million dollars because the accident happened on your property. It’s likely your property insurance includes some liability coverage to help protect you in an event like this. However, that liability coverage has a maximum limit, and you may owe more than that. If you have personal umbrella insurance, it could help cover you beyond your other policies’ limits.

Why Would You Want Personal Umbrella Insurance?
Personal umbrella insurance isn’t just for wealthy people. If you’re sued, all of your assets could be at risk, such as your retirement accounts, your children’s college fund and any real estate assets you have. Purchasing personal umbrella insurance can help protect those assets if you’re found liable in an accident.

Understanding Personal Umbrella Insurance Details.
Typically, a personal umbrella policy offers limits between $1 million and $5 million – higher limits are available if needed. Your policy could also help cover you in the following situations:

  • If you’re sued over an incident covered by your personal umbrella insurance, the policy may retain and pay for your attorney.
  • You’re protected even when you’re out of the country.
  • You could be covered for any wages lost due to a court appearance up to the limits specified in your policy.
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