What does a Personal Umbrella Policy do?
A: Personal Umbrella insurance provides coverage when your liability exceeds the limits of your homeowner's, auto, and boat insurance polices. Different insurance companies require different underlying policy limits in order to add additional Personal Umbrella liablility coverage. Ask your Gold Mountain Insurance Agent about these various benchmarks. The Personal Umbrella Policy can be purchased in increments of 1 million dollars of additional coverage. The Personal Umbrella Policy protects you from major claims and lawsuits in two ways:
1) Provides additional liability coverage above the limits of your homeowner's, auto, and boat insurance policies.
2) Provides coverage for claims that may be excluded by other liability policies including:
False Arrest;
Libel;
Slander; and
Liability coverage for rental units that you own.
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