We all know that umbrella insurance or extra liability coverage is additional coverage to the standard policies like home, boat, car, and motorcycle insurance, but does it cover stolen items? In most cases, umbrella insurance provides extra liability to your underlying policies and not other losses. Therefore to answer our title question–Umbrella insurance does not cover stolen items unless there is a liability claim. If you live in Huntington Beach, CA, and the surrounding communities, Western Republic Insurance Services is here to take care of all your insurance needs.
What umbrella insurance can Cover
- Property damage
- Personal injury
- bodily injury
- landlord liability
What is not covered
- Personal belongings
- business losses
- Oral or written contracts
- Intentional criminal acts
Who needs umbrella insurance?
Umbrella insurance can be beneficial to almost everyone because costly accidents can happen to anyone. The society today is too litigious to walk without coverage that can protect you against lawsuits. If you are a guest entertainer, and a person falls and gets injured in your pool or home, he or she may sue you for injuries.
If your home insurance coverage is not adequate to cover for the injuries and lawsuits, you may need to cough the rest from your pockets if you do not own umbrella insurance. It is the same case with car accidents and any business accident. Umbrella insurance also extends to other family members like your children, spouse, or relatives who live with you.
How much umbrella insurance do you need?
If you have made up your mind to buy umbrella insurance, which is a prudent financial strategy, the next step is figuring how much coverage you need. It is essential that you find this out on your own without involving an insurance company. This way, you will have an estimate of how much you need to buy.
At Western Republic Insurance Services, we recommend going through your assets to determine how much umbrella insurance is adequate for you. You can also visit our Huntington Beach, CA offices, and seek guidance from our insurance experts.