"As long as you earn a livelihood, you should have an umbrella liability policy" Mitch Freedman a CPA and personal financial specialist in westlake Village, Cal."
Everyone is vulnerable to being in a situation where they can be found liable for something. In today's society by simply living we all become targets of legal action. With a personal Umbrella liability policy you can now have the piece of mind to know that you will be fully protected in these cases where you may be found liable. A personal Umbrella liability policy will complement and expand the coverage and limits of your auto, homeowners, and your other primary policies.
You can receive $1-5 million in excess coverage for each occurring under your personal Umbrella policy.
The main purpose of the Umbrella policy to protect your assets from any unforeseen events in which you are responsible, could be sued, or face legal fees.The Umbrella Policy allows for excess liability for instances occurring anywhere in the world. This means the Umbrella policy will provide coverage and limits HIGHER than your primary insurance policies that you hold. The coverage includes bodily injury liability, personal injury liability, property damage liability along with covering extra expenses for legal fees.
The Umbrella policy will also pay defense costs for any lawsuit brought against you when coverage for the loss is provided by the Umbrella policy. As mentioned previously, a personal Umbrella policy will pay other expenses that can be involved in legal defense such as reimbursing you for lost wages or salary during the time of trials or hearings. Payment of bond premiums is also provided. These limits will not reduce your Umbrella policy limit. An Umbrella policy is an inexpensive way to protect you assets from these events in which you didn't see coming.
For further questions on why you should carry an Umbrella policy, contact a licensed professional at Kiely Hines & Associates today. With just a simple phone call an agent will review all your personal options and point you in the right direction to the right coverage!
If you have more questions regarding insurance "Ask Maggie" can help. Asking questions just got much easier here at Kiely Hines & Associates. Email me at [email protected]. I will consult with other licensed professionals, specializing in the topic of your question, in order to thoroughly answer your insurance concerns.
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