Apr 24 Personal Umbrella Policy Thousand Oaks CA

The Edge Of The Umbrella

Understanding Where Your Personal Umbrella Policy Ends

To protect yourself, you have added a personal umbrella policy to your insurance portfolio. This policy will extend the liability limits of your auto and homeowners or renters policies, giving you an extra level of protection between yourself and a disaster. So you can best understand where your personal umbrella policy begins and ends, we would like to help you understand these policy limits.

  • Business Losses: Even if your business is home based, business losses are generally not covered by a personal umbrella policy. That means that losses due to damage to your business property, interrupted business operations, or liabilities like a malpractice lawsuit will not be covered by your umbrella policy.
  • Personal Property: Your personal umbrella policy will kick in if you cause damage to another person’s property. It will not, however, extend to your own personal property. That means that the damages caused by your bathtub overflowing into your downstairs neighbor’s home could be covered by your personal umbrella policy once you reach the limits of your other policies, but the damages in your own home would not be covered.
  • Contracts: If you have a liability that arises because of an oral or written contract, you would not be protected by your personal umbrella policy. It is extremely important to evaluate all contracts before you sign them to ensure your umbrella policy could still protect you.

Is your insurance agent helping you understand how to get the right level of coverage to best protect yourself, your loved ones, and your assets? To get the right personal umbrella policy to protect you from all of life’s troubles in Thousand Oaks, California, and beyond, contact Weeks & Associates Insurance Services. We are here to ensure you have the best insurance coverage to be fully safeguarded from financial hardship.

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