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Purchasing a home is always a big investment, and possibly the largest investment that you and your family will make. It’s critical to protect your home investment with quality homeowners insurance to be sure that your investment is always covered.

Personal Umbrella Insurance effectively increases the liability limits on your existing liability insurance policy or policies, protecting you—and your assets—against lawsuits or major claims. Umbrella insurance can provide coverage to you when your property or car insurance policy coverages have been exhausted.

Your Home and Auto policy already has liability coverage; however, an umbrella insurance policy can insure you beyond the limits of your existing coverage. While it is not a requirement, an umbrella policy can provide some extra peace of mind, knowing that no matter what, you and your assets are always protected.

Why would I need a Personal Umbrella Insurance Policy?

If you are in an at-fault accident in which the other party is injured, you may be liable for their injuries, medical bills, and legal costs. For example: if your car insurance policy only covers $300,000 and the claim against you is over $1 million, your umbrella policy may cover the difference. This is just one example of how an umbrella policy can protect you.

Homeowners’ insurance policies often have limits on certain categories of personal property. These personal property items may include: jewelry, computers, tools, firearms, cameras, cash, and several other items of value. Listing these items specifically under inland marine coverage will guarantee you that they are covered to their full value in the event of a claim, and will normally broaden the coverage on the items.

At the Duke Marshall Group, we understand that you have worked hard to acquire your collection, so be sure that it is properly protected and list your valuables on your inland marine policy.

Many homeowners don’t realize that their homeowner’s insurance does not cover flood damage. Flood insurance is one of the top ways that you can protect yourself from flood losses. As a homeowner, it is important that you understand that floods can happen anywhere, and that any place can flood under certain conditions. Flood insurance can cover certain cleanup expenses, as well as damage to your heating and cooling system, and repair or replacement of flooring, according to your policy.