A personal umbrella insurance policy from Rossmann-Hurt-Hoffman, Inc can help to protect you when the unexpected happens. Umbrella insurance works by providing an extra layer of protection over your existing homeowners insurance and auto insurance policies.
What is a Personal Umbrella Policy?
A personal umbrella policy (PUP) is an insurance policy designed to extend the overall liability coverage provided by your auto, homeowners’, motorcycle, renters’ or condominium policy, and acts as an “umbrella” over and above these coverages. Simply stated, a PUP affords you protection against devastating claims and judgments.
Personal Umbrella Insurance can provide coverage for:
- Personal injury to yourself or a guest on your property
- Liability for medical payments or property damage beyond your homeowners or auto insurance policy
- Incidents and accidents that happen abroad
- Vacation rental liability
- Legal fees associated with covered claims
For over 130 years, Rossmann-Hurt-Hoffman has provided a comprehensive blend of personal insurance policies. Our personal insurance specialists can help you find the right amount of coverage and identify discounts for things like having a claims free history, or having multiple policies with our company.
Contact one of our representatives today for more information and a no-obligation, free quote.
Personal Umbrella Insurance FAQs
How does a personal umbrella insurance policy work?
A personal umbrella policy (PUP) kicks in when the limits of your primary policy (auto, home, etc.) are exhausted, subject to certain exclusions. As a result, your current assets and your future earnings are better protected.
Do I need a personal umbrella insurance policy?
You’ve worked long and hard to get to where you are today. You own a home and a variety of personal possessions, some of which may have been expensive, and you and your family have a car or two, or maybe even three. You’ve done your duty and pinched pennies to save for retirement, all in an effort to provide for your family’s present well being, as well as its financial future and security. But, if you aren’t protected by a personal umbrella policy (PUP), everything you’ve worked for could be at risk because of a single accident or lawsuit.
Personal umbrella insurance can provide protection for anyone and everyone. Nearly every person can benefit from an umbrella insurance policy. These types of policies are an affordable way to ensure that you will not be financially obligated in the event of a catastrophic event. An RHH umbrella insurance specialist can help you analyze your risk and determine the amount and type of policy to suit your needs.
What if an accident happens?
Though you try to avoid them, accidents happen. And, even though you believe you have adequate coverage under your other insurance policies, you may need more protection. Costs to cover property damage, injuries to others, legal expenses from lawsuits and related court awards could quickly exceed the limits of your policies. If you aren’t protected by a PUP, you could be putting your house, your assets and your future earnings at risk. The following everyday examples help illustrate why you need extra protection:
- You have a graduation party, and one of your guests (a) slips and falls, causing temporary paralysis, as well as serious head injuries, or (b) leaves the party intoxicated and is involved in an auto accident, causing serious injury to himself and others;
- While playing recreational baseball, your errant throw strikes a nearby pedestrian in the face. The injuries require reconstructive surgery, but still cause permanent disfigurement;
- While reaching to pick up her cell phone, your daughter swerves across the center line, and hits an oncoming SUV. She is OK, but the accident disables the other driver, and causes serious injury to the two passengers.
Even if you have a modest income and assets, you can unexpectedly find yourself being sued because you were involved in a major auto accident or because of an unfortunate mishap on your property.
A PUP is a low-cost policy designed to protect you, your family and your future against catastrophic lawsuits and judgments.
Are there special requirements for umbrella insurance policies?
It is usually required that you carry a homeowners insurance, renters insurance, or auto insurance policy to obtain an umbrella insurance policy. Likewise, the underlying policy must be kept to up to date and to the level required by the carrier of the umbrella insurance provider. An RHH representative can help make sure you are in compliance to receive benefits in the event of a claim.
How much protection do I need for a personal umbrella policy?
Most personal umbrella insurance policies provide coverage ranging from $1 to $5 million. There are a number of factors that should be taken into consideration before determining a coverage amount. Your net worth is often the most influential factor which includes the value of your home and other assets as well as current and expected income.