Umbrella insurance provides a security blanket of financial protection beyond your insurance policies’ existing liability coverage. While umbrella insurance is a must for many individuals, it does not cover every type of incident or situation. Pound Insurance in Garland, TX offers this guide on what is excluded from umbrella insurance.
What Umbrella Insurance Doesn’t Cover
- Personal Injuries or Property Damage: Umbrella insurance only protects you and your family from incidents that you cause or are responsible for to other people and their property. For example, if your teenager backs their vehicle into your basketball hoop, your umbrella insurance can’t be used to pay for this coverage. Instead, you’d either pay out of pocket or through your auto insurance if you have collision coverage.
- Intentional Damage: If you intentionally damage or injure another person or their property or are committing a criminal act, umbrella insurance is void.
- Injuries Caused by Specific Pets: Your umbrella insurance policy will stipulate what animals or dog breeds are excluded, but generally speaking, dog breeds that are known to be hostile are excluded from umbrella insurance coverage.
- Past Liability: Your umbrella insurance policy must be active at the time of the incident and cannot be retroactively applied to past accidents.
- Business Claims: Umbrella insurance coverage is void if an incident occurs because of a business you operate out of your home or to cover slander and breach of contract claims. If this coverage is important to you, it can be bought as an add-on to your commercial insurance policy.
Contact Pound Insurance in Garland, TX to learn if umbrella insurance makes sense for you. We’re happy to schedule a complimentary consultation to meet with one of our insurance professionals to learn the ins and outs of umbrella insurance so that you can make an informed decision.