Personal Umbrella Insurance
Personal Umbrella Insurance Information
Umbrella Liability Insurance
Since opening our doors in 1983, Gerardo Carbajal Insurance Agency has worked to provide comprehensive insurance to individuals and businesses in Walnut Creek, Oakland and throughout California. Our dedicated agents have years of combined experience, and they are committed to helping clients mitigate risk through exceptional customer service and tailored insurance protection.
Our priority is to get you the personal insurance portfolio that works for you, and one of the quality benefits that you should consider investing in is personal umbrella liability insurance. It’s an affordable, adaptable benefit that you can use to your advantage whenever you run the risk of a claim exceeding the value of your standard liability benefits.
To get your policy, just call us at 925-256-1300 or request your free quote online now!
Common Umbrella Insurance Questions
What is an umbrella insurance policy?
Liability insurance is designed to protect you if you ever make a mistake that harms others, and that you are responsible for paying for. However, the coverage within your personal liability plans will have limits attached. If a claim were to exceed the policy’s limits, then you might be forced to pay the difference that remains on the claim.
An umbrella liability policy will ensure that you can file this additional claim. Though you might have maxed out the coverage of a standard liability plan, your umbrella coverage will be the policy to provide the added financial assistance.
What does umbrella insurance cover?
A single personal umbrella policy can apply to numerous liability policies at the same time, including:
To use your umbrella plan, you must first file a claim against your existing liability benefits. Those plans will pay up to their limits, at which time you can turn to your umbrella plan to pay the residual costs. With it, you’ll be able to settle your losses with those to whom you owe money, with a minimal financial loss to yourself.
Most plans offer a basic limit of at least $1 million, and some will even cover liabilities that are not insured by your basic plan. So, if you ever find yourself lacking coverage in one plan, then you might find the solution in your umbrella plan.
Who needs umbrella insurance?
You might not realize that you need an umbrella plan, but if you ever wind up in a situation where you face a massive liability claim against you, then you will see exactly how beneficial your plan can be.
Suppose that you have homeowners insurance with a liability limit of $500,000. A neighbor falls down your steps, sustains a severe injury, and sues you for $2 million worth of medical bills, lost income and other damages. That’s a $1.5 million difference between what you owe this neighbor. Umbrella liability insurance will help you pay for that gap in coverage.
How much does personal umbrella insurance cost?
Umbrella liability policies are very affordable, and we will work with you to make certain that your policy of choice always offers optimized pricing. Our carrier network offers a diversity of plan options, and we can make certain that yours will integrate seamlessly with your other policies. That way, you’ll always know that your plan will be there to help you when you need it.