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Umbrella Policy

Sacramento Accident Lawyer Can Help You Determine Best Insurance Policies

Insurance policies are tricky subjects to fully understand. If you are ever sued for causing damage or injury to another person, your standard insurance policy will provide you with some liability coverage, but it’s often a good idea to consider purchasing umbrella insurance. Contacting a Sacramento accident lawyer is always a good idea if you have any questions regarding specific aspects of your case.

What Is an Umbrella Policy?

An umbrella insurance policy is extra liability insurance coverage that goes beyond the limits of your auto, home or renters insurance. The main purpose of an umbrella policy is to protect your assets from an unforeseen event, such as a tragic accident in which you are held responsible for damages or bodily injuries. If another party files a lawsuit against you, your umbrella coverage will pay for the damages you’re legally responsible for up to the policy limit.

Personal liability umbrella policies could provide:

  • protection for covered claims by others for personal injury or property damage caused by you, members of your family/household, or hazards on your property for which you are legally liable
  • personal liability coverage for occurrences on or off your premises
  • protection against personal claims, such as defamation of character, libel, or slander, that may not be covered by your other policies
  • an additional layer of protection above your primary auto policy against auto-related liabilities
  • legal defense costs for a covered loss, lawyer fees and associated court costs fees
  • worldwide coverage

How Does Umbrella Insurance Work?

Depending on the type of accident, your umbrella insurance can come into play if you are found liable and need to pay damages. Your umbrella insurance can also come into play if you are sued and need to pay for legal defenses, even if the result is that you are not found guilty. An umbrella policy only pays once your basic liability limits have been exhausted or the claim is excluded from the basic liability coverage. The claim will be made against you, the policy holder, on behalf of the wronged party. Then your insurance company may pay the settlement amount up to the limits of your coverage. If your settlement amount exceeds your coverage limits, you are responsible for paying the remaining amount out of pocket.

How Much Umbrella Insurance Should I Carry?

You should consult with a Sacramento accident lawyer for any legal advice pertaining to insurance but, in general, when choosing your coverage limits, consider the following:

  • the risks you may face – consider risks as a homeowner or renter, the risk of causing an accident during your work commute and any potentially dangerous activities you participate in that could put those around you at risk
  • the value of your assets – these include properties, possessions, stocks, bonds, savings and retirement funds
  • the potential loss of future income – because liability lawsuits can result in loss of both current assets and future income, even those with few assets to protect may want to consider the long term ramifications of a serious claim

Each situation is different and contacting an accident lawyer is the best way to do what’s right for your life.

Speak with an Accident Lawyer About Insurance Questions You Have

Contact our Sacramento CA accident lawyer to discuss your insurance concerns. We offer a free initial consultation where you can get honest answers to your questions and learn more about your rights in these matters.

Please call (916) 357-6767 or send us an email to schedule an appointment.

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    Joseph B. Weinberger
    Joe Weinberger has represented thousands of injured people nearly 30 years of practicing law. Widely respected by colleagues and known for providing practical, friendly and effective service, Mr. Weinberger attracts clients throughout the Northern California area.

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