Umbrella insurance, sometimes called personal liability insurance, offers coverage beyond the limits of your other policies. It can help cover the financial gaps and protect your savings and assets in the event you’re liable for damages.
Umbrella insurance is not required, but many choose to purchase a policy for greater peace of mind in answering some of life’s “what if” questions. There are key advantages to this type of coverage, but there may also be downsides.
To help you understand umbrella insurance more clearly, here is a breakdown of some major pros and cons:
Umbrella insurance can help you avoid major financial loss. Some major advantages include:
Umbrella insurance provides extra liability coverage and legal defense in a variety of situations. However, there are some downsides and major exceptions to consider, including:
An umbrella insurance policy can keep you and your assets safe. While you’ll hopefully never need to file a claim, the more you know about what umbrella coverage provides, the better insurance decisions you’ll be able to make.
Lenore has been a Collier County resident for over 40 years. She fell in love with Naples and surrounding areas and decided to make the move from Cleveland in December 1981. Lenore has a Bachelor of Arts Degree from the University of South Florida where she met her husband of over 25 years. They have two children that attend University of Florida and Florida Gulf Coast University. She has worked as a Community Service Deputy with the Collier County Sheriff’s Office, a Guest Teacher with the Collier County Public Schools, and continues to serve on many committees with the Parent-Teacher Organizations in Naples. Lenore has a true passion for Naples and is excited to put that passion to work for her customers. Whether you need an expert guide in buying a home, or a dedicated leader to sell your property; her love of Naples will always give you piece of mind in your real estate venture.