Although most policyholders never make a claim against their umbrella insurance policy, it provides an invaluable safety net when needed. If you have liabilities exceeding your auto, home, and other insurance policy claim limits, umbrella insurance covers the excess amount. It’s important to recognize that while umbrella insurance typically covers all household members, exceptions can exist, so you should discuss your circumstances with your agent. If you live in or near Dover, NH, and need umbrella or other insurance assistance, contact the Gateway Property & Casualty team.
Why Household Members Are Not Always Covered
Umbrella insurance pays the excess liabilities if you exceed your underlying policy limits. Just as auto insurance requires that you identify the household members covered by your policy, you need to identify which household members need coverage under your umbrella insurance. Your policy and premiums will adjust based on who is covered and their occupations, hobbies, ages, and coverage by other insurance policies.
Umbrella policies cover only those household members covered by your underlying policies. It does not, for instance, cover adult children or parents in your household who have separate auto policies. Similarly, a child with a renters’ policy for a college apartment may not have umbrella coverage for some liabilities.
Other exceptions can exist, so you should discuss your umbrella policy and household members with your agent, especially as conditions change to ensure you know who is covered. Bundling all family policies with one agent helps ensure your agent is aware of each household member’s policies.
The Gateway Property & Casualty Difference
Gateway Property & Casualty recognizes your unique needs. Call us today at (603) 294-1902 if you live in the Dover, NH, area and want personalized insurance solutions.
