Umbrella Coverage | (top)
An umbrella policy creates an umbrella of protection by adding additional limits of liability to all of your underlying policies (Auto, Home, Farm, etc.) in a single policy form. Umbrella policies usually start at $1 million and can be increased depending on how much extra protection you need! An umbrella policy can also add additional coverages that the underlying home or auto policies may not cover. Examples of this include unintentional personal injury such as libel, slander, false arrest protection, false imprisonment protection, etc. Check with your local agent for more details!
Still not sure how an umbrella policy enhances your protection? If you have a $1 million umbrella, the liability limits on your Auto, Home, Farm, Boat and Power Sports policy are all increased by $1 million. By creating a single policy to increase the limits, you get the most coverage for your money by spreading the risk. One question agents typically ask an insured is how much do you have to lose if someone would sue you? If you have more than $1 million in assets, you should definitely increase the Umbrella policy to a higher limit!
Glossary | (top)
The seizure of a person without legal authority.
The restraint of a person without justification or consent.
A risk management technique that transfers the potential financial consequences of certain specified loss exposures from you to an insurance company.
A contract that states the agreement of rights and duties between the insurance company and you.
A written or printed untrue statement that damages a person’s reputation.
Limits of liability:
Many of your property and liability coverages have limits which are the maximum amount of insurance provided for that particular coverage. These limits are generally found on your declarations page.
A reduction in the quality or value of a property, or a legal liability.
Words falsely spoken that damages a person’s reputation.
A single policy that is added to your package of underlying policies that increases your liability limits applicable to each underlying policy.
Why IMT? | (top)
Sometimes It Rains. When it rains, we all appreciate having a trusty umbrella to help shelter us from the storm. Your personal insurance is no different. All of your various liability policies auto, homeowners, personal/farm liability or recreational vehicle may not always be sufficient protection should you happen to find yourself in the heaviest of downpours.
Sometimes It Pours. In society, lawsuits are common and your personal insurance needs are not as simple as they once were. An IMT Personal Umbrella policy will provide your hard earned assets that extra protection to assist you as you weather life’s gathering storms.
Besides the additional liability protection, a personal umbrella policy provides you with other benefits including:
- Personal Injury and Property Damage Protection
- False Arrest Protection
- Libel Protection
- Slander Protection
- False Imprisonment Protection
- Wrongful Eviction Protection
- Non-deliberate Discrimination Protection
- Wrongful Detention of Property Protection
- Invasion of Privacy Protection
We would encourage you to find out more about all of our insurance products and obtain a free quote by contacting a local insurance agent today!