The Problem Of Umbrella Excess Liability Insurance

Consider a scenario wherein you hold an event in your residence and you were generous enough to invite a sizable number of people in your neighborhood. You invite them for a sumptuous barbecue party with free use of your swimming pool. Unfortunately an accident occurs and a guest slid by the poolside causing his head to hit the pavement and thus putting him in a coma. The question now is will your homeowners insurance cover the injury done to your guest? The answer of course is yes. But the real question is will the coverage be enough to pay for the hospitalization, medicines, incidental medical expenses and even perhaps to pay for rehabilitation expenses in the event that nerve issues are involved? I honestly doubt that one can immediately say "yes".

These kind of incidents are the things that one seriously considers in planning to acquire a good insurance. Other than getting a good insurance with a sizable coverage one should also consider getting a policy to secure the primary insurance. This is where the value of an umbrella insurance comes in. Simply put, an umbrella insurance is an extra liability insurance. It is supposed to help protect you from major claims and lawsuits. Specifically it provides additional liability coverage above the limits of your homeowners, auto and boat insurance policies.

What is umbrella excess liability insurance for?

This protection is designed to kick in when the liability on the other policies has been exhausted. Usually umbrella excess liability insurance are sold in increments of one million dollars. The term umbrella was used because this particular insurance covers liability claims from all policies underneath it such as auto insurance or homeowners insurance. Referring to our example let us say that your homeowner insurance coverage is 400,000 dollars. Will this amount cover the expenses described above? An umbrella insurance, because of its minimum value of one million will be added to your original coverage thus making a total of 1,400,000 dollars as your coverage.

Cruising Insurance Policy

This would be more than enough to cover any damage or injury that may occur. Cruising Insurance is another important policy that one should consider getting when going on a trip. A cruise traveller might say that the amount he paid for the trip includes the insurance. However the company insurance that comes with the trip is quite limited. Going on a cruise, you cannot foresee what could happen to you. Remember that you are in a middle of the ocean and is miles away from the shore. What if an emergency requires you immediate hospitalization? Having this insurance will provide you to be airlifted to the nearest hospital. Cruise insurance will put your mind at ease that you will be taken cared of even if you are miles away from the nearest land.