Do I or don’t I need to buy better personal liability coverage than that what is provided in the standard insurance for homeowners and renters?
In order to assess the situation properly, you’ll need to know understand how a personal umbrella liability insurance policy works.
Personal Umbrella Liability coverage can shield you from the costs you may be liable to pay for – doctor, hospital and other medical costs over the standard insurance limits – in relation to an accident or event on your property that resulted in injury to another person. It can also pay for costs that exceed the standard insurance policy limits in regard to property damage. In addition, it can help pay for insurance claims that may not otherwise be covered.