We hope you are enjoying your summer. With the extreme heat recently, there have been a few fires popping up and hopefully they remain far away from your home.
In the last couple weeks, I have had a few conversations with clients about their umbrella policies. If you are not familiar with what an umbrella policy is, it is typically an additional $1 million to $5 million in coverage on top of your other policies. It increases your liability coverage in the event of a lawsuit or if you were in a terrible/costly at-fault accident.
The question my clients had was: Would my umbrella policy increase coverage for my personal property or dwelling coverage on my homeowners insurance? In theory, that would be a great idea. Unfortunately, the umbrella policy will not extend coverage to your home or personal property, if you were short on coverage, in the event of a loss. The umbrella policy is designed only to cover you in the event you exceed the liability portion of your underlying policies (auto, homeowners, RV, boat, snowmobile, ATV, etc).
For more information on an umbrella policy, click here to watch a 1 minute video.
If you have questions, we are here for you, any time.
