When it comes to your umbrella insurance coverage, you want to make sure that you are doing all you can to get the most out of it. There is no sense in paying for insurance if you aren’t taking full advantage of it, right? Fortunately, there are several ways you can go about improving your umbrella coverage. Let’s take a quick look at two of these ways.
1) Check for coordination
First and foremost, you will want to make sure that your umbrella insurance is coordinating with your other policies. Remember, if the underlying limits of your other policies are not met, then your umbrella coverage will not come into effect. Generally, those who provide umbrella coverage will want to see your other policies have the following minimums:
- $300k to $500k of liability coverage on homeowners policies
- $250k/$500k of liability on your auto policies
Most importantly, remember that any changes to your existing policies may mean there need to be changes made to your umbrella policy. With this in mind, never make tweaks to your other policies without considering how they will impact your umbrella coverage.
2) Look at your personal injury coverage
There is a big difference between bodily injury and personal injury. You need to check your existing coverage and see if it provides protection against libel and slander. From there you can tweak your umbrella coverage to ensure you are covered if you are ever sued for something you may have said (such as on Facebook).
If you would like to learn more about improving your umbrella insurance, please contact Ganley Family Insurance serving the Brecksville, OH area.