Personal Umbrella Insurance in Foley, AL
A robust insurance policy is an essential consideration for just about every person. If you own a car, purchase a home or rent an apartment, you may already have at least one type of insurance to your name, but that might not be enough. Depending on your circumstances, you can extend your liability coverage through personal umbrella insurance.
What Is Personal Umbrella Insurance?
Personal umbrella insurance is a form of liability coverage that can offer financial support beyond the limits of a personal lines policy, such as auto, home or renters insurance. If an incident occurs with costs that exceed your other liability policy’s limit, umbrella insurance can help cover the remaining balance. 
How Much Does This Coverage Cost?
The following factors can influence the cost of personal umbrella insurance:
- Coverage limits
- Deductible amount
- Number and types of assets (e.g., property and vehicles)
- Personal risk factors (e.g., claims history and lifestyle)
- Underlying insurance policy details
Who Needs This Type of Insurance?
Most people can benefit from an umbrella insurance policy because high-cost accidents can happen to anyone at any time. Umbrella insurance can help you cover costly incidents that you would otherwise have to pay for out of pocket. For example, if you are at fault for a car accident that injured another person, the cost may exceed your auto insurance limits. Your umbrella insurance may then cover the remaining costs.
It’s also important to note that umbrella insurance policies can extend to other members of your household, such as a spouse or children. Overall, umbrella insurance is a critical consideration for anyone looking to protect themselves and their family financially.
Learn More
Contact Southern Insurance AL LLC to discuss umbrella insurance and determine if it is an appropriate addition to your insurance portfolio.