Personal Umbrella Insurance for Floridians
Policies for Florida Residents, from the Gulf Coast to the East Coast, the Keys to the Panhandle
You might buy liability insurance within your house, car, motorcycle or boat policy. The coverage helps you compensate others if you cause them a significant loss. To further reduce that risk, consider buying umbrella liability coverage. It’s a benefit that can help you apply extra liability protection to numerous policies, and Dakkak Insurance
can ensure you get that coverage.
Understanding Umbrella Coverage
People buy liability insurance to help them cover the costs of someone else’s losses for which the insured is at fault. For example, car insurance policies often contain this coverage because, if you hit another vehicle, then that driver’s damage costs might be your responsibility to cover.
However, if you ever exceed the limits of a liability policy, you still might not be off the hook for the remaining third-party costs. In these cases, umbrella coverage can step in to pay the remaining costs. It’s usually called excess liability insurance because it helps you pay excess liability costs. You won’t have to spend your own money trying to cover additional expenses.
What Coverage Can Umbrella Insurance Offer
With one umbrella policy, you might be able to add extra protection for home, auto, specialty vehicle and other personal insurance policies. The right umbrella policy can provide a couple of benefits:
- Increased Liability Limits for Existing Coverage
Suppose your homeowners liability policy pays a maximum of $500,000 for third-party injuries. Though these are high coverage limits, there’s no guarantee that someone’s injury claim will stay within them. Medical care is expensive, and more-severe injuries lead to higher costs.
Homeowners with umbrella insurance can use it to pay excess damage costs if they run out of coverage under their standard policy. So, if someone suffers $750,000 in injury costs, your standard policy will pay up to its $500,000 limit. Then, you can claim the additional $250,000 on your umbrella policy.
policy options can provide from $1 - $5 million
in additional liability protection and many policies will include unlimited legal expense coverage.
- Coverage for Expanded Losses
Umbrella policies also can insure losses excluded by a standard liability policy. They might cover:
- Personal injuries such as allegations of libel, slander or copyright infringement
- Animal liabilities, like if your pet bites someone or damages their property
- Defamation claims, such as allegations of misconduct of social media
- Wrongful death claims if someone dies as a result of your mistakes
- Landlord exposures, such as if someone sues you if they get hurt in a rental property you own
Why Choose Dakkak Insurance?
At Dakkak Insurance, we fully understand how important it is to help you structure the appropriate umbrella liability coverage. Policies can contain limits that are tailored to your individual needs, and all of our agents are experts in helping you understand how you should structure your coverage limits. Don’t hesitate to come to see how we can meet your insurance needs.
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