Filing a Personal Umbrella Insurance Claim: What to Expect and How to Prepare
Personal umbrella insurance may help cover claims exceeding your homeowners, watercraft and auto liability insurance policy limits. A typical auto or home liability policy has a maximum limit of $300,000 to $500,000. Umbrella insurance may pick up where your other coverage left off for third-party bodily injury and property damage claims.
How to File an Umbrella Insurance Claim
Your agent can help determine how your umbrella policy may help protect your assets in the event of a severe accident or incident which results in legal liability for damages. Your umbrella policy may also help cover the costs of legal defense for you and members of your household.
Each insurer has its own claims process. If you experience a liability claim with the potential to exhaust your primary coverage’s liability limits, contact your umbrella insurance company or agent immediately.
It might be possible to file an umbrella claim while the primary liability claim is in process, allowing you to use the same adjuster. The adjuster will communicate any need for additional documentation.
What Does Personal Umbrella Insurance Cover?
While your primary personal insurance policies may cover most claims, a serious accident or incident resulting in major injuries to others or significant third-party property damage could leave you with significant financial responsibilities.
In general, personal umbrella insurance policies may help provide the following coverage for you and members of your household:
- Attorneys fees and other lawsuit-related expenses
- Accusations of libel or slander
- Liability claims exceeding the limits of your personal liability coverage
- Liabilities when traveling overseas
- Claims of personal psychological harm
- Claims of malicious prosecution
Without a personal umbrella insurance policy, your assets and future income could be tapped to pay claims exceeding your liability coverage. Contact James V Funaro Agency serving the Bethpage, New York, area to learn more about how a personal umbrella insurance policy works and get a quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.