Emergency Hurricane Preparedness Tips
Every year as the weather warms up, the people of Louisiana brace for storm season. Your team at Kastner Insurance Group is here for you year round,...
Umbrella Policies, sometimes referred to as a personal liability policy (PLP), is a type of personal liability insurance that is indispensable when you find yourself liable for a claim larger than your home, auto, boat, or camp insurance policy would cover.
As a general rule, you might hear you should purchase umbrella insurance if the total value of your assets, including ordinary checking and savings accounts, retirement and college savings and investment accounts, and home equity is greater than the limits of your auto or homeowner's liability.
Hence the name "Umbrella", it's a policy that covers above and beyond the base liability on your primary policies. It basically picks up the liability where your other personal policies end.
Umbrella's insurance even covers certain liability claims those policies may not, such as libel, slander, malicious prosecution, wrongful entry, invasion of privacy, false imprisonment, and other hazards. Also if you own rental property in your personal name , umbrella policies provide liability coverage beyond what your rental property policy covers.
So who should have an umbrella policy? Well that depends on if you can answer "yes" to any of these questions:
The list goes on and more examples can be found here.
You may not realize all the factors that leave you vulnerable to lawsuits. Umbrella Insurance covers you so that you can continue to do the things you enjoy without worrying about what could go wrong.
If you have questions about Umbrella Insurance or want to know more about how having this policy may benefit you, either give us a call or fill out the form below.
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Every year as the weather warms up, the people of Louisiana brace for storm season. Your team at Kastner Insurance Group is here for you year round,...