13 Dec 2018
Signs that You Need a Personal Umbrella Policy

Having these features on your property signal your need for additional liability protection.

If you have homeowners insurance, then you know your policy offers you personal liability coverage. However, this coverage is limited, and a particularly expensive liability claim could exceed what your policy will cover. Fortunately, securing a personal umbrella policy is a great way to secure excess liability coverage to fill this gap in your protection. But how do you know if you need this additional policy? Well, if you have these features on your property, a personal umbrella policy is a good idea.

  • Trampoline

If you have a trampoline on your property, you have an increased risk of a third-party injury taking place. In fact, most homeowners insurance policies specifically exclude coverage for trampolines because of their risky nature. To secure coverage for the trampoline-related injuries that take place on your property, you will need to invest in an umbrella policy.

  • Play Equipment

Much like trampolines, having play equipment in your yard can also increase the chance of a third-party injury taking place on your property. You should speak to your insurer to see if your existing policy offers coverage for the play set, swing set, or tree house in your yard. If not, then you need the financial protection that only a personal umbrella policy will offer.

  • Swimming Pool

Finally, pools also increase your risk for personal liability issues. Because pools are so risky, some insurers refuse to extend coverage to them. Even if your policy does offer coverage for your swimming pool, your coverage limits probably aren’t high enough to fully cover the costs associated with an injury or accidental drowning. To ensure that the cost of such issues doesn’t come out of your own pockets, you need to secure protection from an umbrella policy.

If you have these features on your property, securing personal umbrella insurance is essential. Do you have further questions regarding your personal liability or homeowners insurance? If so, contact the team at Patterson & Associates in Richardson, Texas. Our dedicated agents are eager to assist you with all your coverage needs today